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  • The burn-to-claim cross-blockchain asset transfer protocol

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    Pillai439075-Accepted.pdf (248.9Kb)
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    Accepted Manuscript (AM)
    Author(s)
    Pillai, Babu
    Biswas, Kamanashis
    Zhe, Hou
    Muthukkumarasamy, Vallipuram
    Griffith University Author(s)
    Muthukkumarasamy, Vallipuram
    Hou, Zhe
    Year published
    2020
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    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 ...
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    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.
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    Conference Title
    Proceedings of the IEEE International Conference on Engineering of Complex Computer Systems, ICECCS
    DOI
    https://doi.org/10.1109/ICECCS51672.2020.00021
    Copyright Statement
    © 2020 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
    Subject
    Cloud computing
    Distributed systems and algorithms
    Networking and communications
    Publication URI
    http://hdl.handle.net/10072/404396
    Collection
    • Conference outputs

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