SoK: Delay-Based Cryptography

Abstract

In this work, we provide a systematisation of knowledge of delay-based cryptography, in which we discuss and compare the existing primitives within cryptography that utilise a time-delay. We start by considering the role of time within cryptography, explaining broadly what a delay aimed to achieve at its inception and now, in the modern age. We then move on to describing the underlying assumptions used to achieve these goals, and analyse topics including trust, decentralisation and concrete methods to implement a delay. We then survey the existing primitives, discussing their security properties, instantiations and applications. We make explicit the relationships between these primitives, identifying a hierarchy and the theoretical gaps that exist. We end this systematisation of knowledge by highlighting relevant future research directions within the field of delay-based cryptography, from which this area would greatly benefit.