Whispers: A Distributed Architecture For Enforcing Privacy In Credit Networks

Aniket Kate, Matteo Maffei, Giulio Malavolta, and Pedro Moreno-Sanchez

Credit networks model trust among users through a directed, weighted graph, where the value of each edge shows the amount of credit that a user is willing to extend to another. Credit networks constitute the core of a variety of applications, such as trustworthy online marketplaces, spam filtering, rating systems, cloud computing, and social networks. Moreover, a few emerging payment systems, such as Ripple and Stellar, rely on credit networks to represent and process the credit between peers: this enables multi-currency transactions (in fiat currencies, crypto-currencies and user-defined currencies) across the globe in a matter of seconds, which are also significantly cheaper than traditional banking solutions. Several banks have started to use Ripple as a backbone for online transactions.