A PKI without Trusted Third Party based on Blockchain

Abstract

Many people have used public keys in a lot of areas based on Public Key Infrastructure (PKI). However, existing PKI methods have two problems: (1)They assume trusted third parties, (2)There is no method to trust issuers. To solve these problems, we propose a new trust model and describe its implementation based on blockchain. We analyze the security of our method and show that its security can be achieved higher than previous methods. This new method can be particularly useful in an environment where a third party cannot be easily trusted.