The Burn-to-Claim cross-blockchain asset transfer protocol

Conference paper

Pillai, Babu, Biswas, Kamanashis, Hou, Zhe and Muthukkumarasamy, Vallipuram. (2020). The Burn-to-Claim cross-blockchain asset transfer protocol. 25th International Conference on Engineering of Complex Computer Systems (ICECCS). 28 - 31 Oct 2020 IEEE Xplore. pp. 119-124 https://doi.org/10.1109/ICECCS51672.2020.00021
AuthorsPillai, Babu, Biswas, Kamanashis, Hou, Zhe and Muthukkumarasamy, Vallipuram
TypeConference paper
Abstract

The future of multi-blockchain architecture depends on the emergence of new protocols that achieve communication between trustless cross-chain participants. However, interoperability between blockchains remains an open problem. Existing approaches provide integration through solutions using a middleware system, which makes it harder to gain confidence mainly in terms of security and correctness of the process. A cross-chain protocol needs to provide a self-verifiable state-proof that embeds trust in the transfer process. We propose a Burn-to-Claim cross-chain protocol to seamlessly exchange assets between networks. Our scheme transfers assets from one blockchain system to another in a way that the asset is burned from the source blockchain and claimed on the destination blockchain. Our mechanism employs combinations of crypto mechanisms such as digital signatures and time lock to operate the protocol in a distributed manner. We provide an analysis which proves that our cross-chain protocol transfers assets correctly and securely.

Year2020
PublisherIEEE Xplore
Digital Object Identifier (DOI)https://doi.org/10.1109/ICECCS51672.2020.00021
Scopus EID2-s2.0-85103496175
Publisher's version
License
All rights reserved
File Access Level
Controlled
Page range119-124
Book editorLi, Yi
Liew, Alan
ISBN9781728185583
9781728185590
Output statusPublished
Publication dates
Online19 Mar 2021
Publication process dates
Deposited11 Oct 2021
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