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| Main Authors: | , , , |
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| Format: | Preprint |
| Published: |
2024
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| Subjects: | |
| Online Access: | https://arxiv.org/abs/2403.03906 |
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| _version_ | 1866909137643765760 |
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| author | Clark, Emily Georgiou, Chloe Poon, Katelyn Chrobak, Marek |
| author_facet | Clark, Emily Georgiou, Chloe Poon, Katelyn Chrobak, Marek |
| contents | In his 2018 paper, Herlihy introduced an atomic protocol for multi-party asset swaps across different blockchains. His model represents an asset swap by a directed graph whose nodes are the participating parties and edges represent asset transfers, and rational behavior of the participants is captured by a preference relation between a protocol's outcomes. Asset transfers between parties are achieved using smart contracts. These smart contracts are quite involved and they require storage and processing of a large number of paths in the swap digraph, limiting practical significance of his protocol. His paper also describes a different protocol that uses only standard hash time-lock contracts (HTLC's), but this simpler protocol applies only to some special types of digraphs. He left open the question whether there is a simple and efficient protocol for cross-chain asset swaps in arbitrary digraphs. Motivated by this open problem, we conducted a comprehensive study of \emph{HTLC-based protocols}, in which all asset transfers are implemented with HTLCs. Our main contribution is a full characterization of swap digraphs that have such protocols. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2403_03906 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | On HTLC-Based Protocols for Multi-Party Cross-Chain Swaps Clark, Emily Georgiou, Chloe Poon, Katelyn Chrobak, Marek Data Structures and Algorithms F.2 In his 2018 paper, Herlihy introduced an atomic protocol for multi-party asset swaps across different blockchains. His model represents an asset swap by a directed graph whose nodes are the participating parties and edges represent asset transfers, and rational behavior of the participants is captured by a preference relation between a protocol's outcomes. Asset transfers between parties are achieved using smart contracts. These smart contracts are quite involved and they require storage and processing of a large number of paths in the swap digraph, limiting practical significance of his protocol. His paper also describes a different protocol that uses only standard hash time-lock contracts (HTLC's), but this simpler protocol applies only to some special types of digraphs. He left open the question whether there is a simple and efficient protocol for cross-chain asset swaps in arbitrary digraphs. Motivated by this open problem, we conducted a comprehensive study of \emph{HTLC-based protocols}, in which all asset transfers are implemented with HTLCs. Our main contribution is a full characterization of swap digraphs that have such protocols. |
| title | On HTLC-Based Protocols for Multi-Party Cross-Chain Swaps |
| topic | Data Structures and Algorithms F.2 |
| url | https://arxiv.org/abs/2403.03906 |