Cross Ledger Transaction Consistency for Financial Auditing

This repository contains the reference implementation of the protocols presented in our paper "Cross Ledger Transaction Consistency for Financial Auditing". The work introduces two protocols, CLOSC and CLOLC, designed to enable auditors and regulatory committees to verify that transactions across different ledgers are consistent, while preserving privacy and scalability in large-scale financial networks.

Paper

Our paper is published in the Advances in Financial Technologies (AFT) 2024 proceedings. To cite our work, please use the following BibTeX entry:

@InProceedings{koutsos_et_al:LIPIcs.AFT.2024.4,
  author =	{Koutsos, Vlasis and Tian, Xiangan and Papadopoulos, Dimitrios and Chatzopoulos, Dimitris},
  title =	{{Cross Ledger Transaction Consistency for Financial Auditing}},
  booktitle =	{6th Conference on Advances in Financial Technologies (AFT 2024)},
  pages =	{4:1--4:25},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-345-4},
  ISSN =	{1868-8969},
  year =	{2024},
  volume =	{316},
  editor =	{B\"{o}hme, Rainer and Kiffer, Lucianna},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.AFT.2024.4},
  URN =		{urn:nbn:de:0030-drops-209409},
  doi =		{10.4230/LIPIcs.AFT.2024.4},
  annote =	{Keywords: Financial auditing, Two-tier ledger architecture, Smart contracts, Transaction privacy, Financial entity unlinkability}
}

For additional details, see the paper on the Cryptology ePrint Archive.

Project Structure

.
├── benchmark
│   ├── clolc           # CLOLC: benchmark contracts, internal modules, and scripts (e.g., scripts for initialization, transaction recording, consistency examination, result verification)
│   ├── closc           # CLOSC: similar structure as clolc for corresponding benchmarks
│   └── timecounter     # Utility for time counting
├── internal            # Core modules (auditor, committee, organization, transaction, crypto, constants) for both CLOLC and CLOSC
├── script              # Setup scripts (e.g., setup.sh)
├── LICENSE
├── README.md
└── go.mod, go.sum

Important Notes on Benchmarking

• Benchmark Execution: To run any benchmark, you must first change the directory into the corresponding script folder. For example:
  • For the CLOLC benchmarks, navigate to benchmark/clolc/script and then run the desired benchmark script.
  • For the CLOSC benchmarks, navigate to benchmark/closc/script and then run the appropriate benchmark script.
• Common Benchmark Scripts:
  • run_all.sh: Runs all benchmarks for the corresponding protocol.
  • run_off_chain.sh: Runs benchmarks for the off-chain phase of the corresponding protocol.
  • run_on_chain.sh: Runs benchmarks for the on-chain phase of the corresponding protocol.
• Environment Recommendation: For reproducible performance and to fully leverage our benchmarks, we recommend using Linux (Ubuntu) machine.

Setup

Before running any benchmarks or tests, install the necessary dependencies by running the following script:

./script/setup.sh

Contributing

Contributions, suggestions, and bug reports are welcome! Please open an issue or submit a pull request.

License

This project is licensed under the MIT License.

Contact

For further inquiries, please reach out to:

• Vlasis Koutsos - vkoutsos@cse.ust.hk
• Xiangan Tian - xtianae@cse.ust.hk