Cryptology ePrint Archive: Report 2013/622

In this work we propose a novel anonymous credential scheme that eliminates the need for a trusted credential issuer. Our approach builds on recent results in the area of electronic cash and uses techniques --- such as the calculation of a distributed transaction ledger --- that are currently in widespread deployment in the Bitcoin payment system. Using this decentralized ledger and standard cryptographic primitives, we propose and provide a proof of security for a basic anonymous credential system that allows users to make flexible identity assertions with strong privacy guarantees. Finally, we discuss a number of practical applications for our techniques, including resource management in ad hoc networks and prevention of Sybil attacks. We implement our scheme and measure its efficiency.