Loading...
The Burn-to-Claim cross-blockchain asset transfer protocol
Pillai, Babu Biswas, Kamanashis Hou, Zhe Muthukkumarasamy, Vallipuram
Pillai, Babu
Biswas, Kamanashis
Hou, Zhe
Muthukkumarasamy, Vallipuram
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.
Keywords
Date
2020
Type
Conference paper
Journal
Book
Volume
Issue
Page Range
119-124
Article Number
ACU Department
Peter Faber Business School
Faculty of Law and Business
Faculty of Law and Business
Collections
Relation URI
Source URL
Event URL
Open Access Status
License
All rights reserved
File Access
Controlled