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Towards a Broadcast Time-Lock Based Token Exchange Protocol

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Euro-Par 2021: Parallel Processing Workshops (Euro-Par 2021)

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Abstract

Many proposals for token exchange mechanisms between multiple parties have centralization points. This prevents a completely trustless and secure exchange between those parties. The main issue lies in the fact that communications in projects using a blockchain are asynchronous: classical result asserts that in an asynchronous system a secure exchange of secrets is impossible, unless there is a trusted third party. In this paper, we propose our preliminary results in the creation of our Broadcast Time-Lock Exchange (BTLE) protocol. The core of BTLE is the introduction of synchronicity in communications through the use of time-lock puzzles. This makes it possible to exchange secrets between two parties while eliminating the need for a trusted third party.

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Notes

  1. 1.

    The real exchange rates between the two tokens and how they are decided are beyond the scope of this paper.

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Author information

Authors and Affiliations

  1. Department of Computer Science, University of Turin, Turin, Italy

    Fadi Barbàra & Claudio Schifanella

  2. Department of Mathematics, University of Trento, Trento, Italy

    Nadir Murru

Authors
  1. Fadi Barbàra
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  2. Nadir Murru
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  3. Claudio Schifanella
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Corresponding author

Correspondence to Fadi Barbàra .

Editor information

Editors and Affiliations

  1. University of Lisbon, Lisbon, Portugal

    Ricardo Chaves

  2. Department of Computer Engineering, CiTIUS, University of Santiago de Compostela, Santiago de Compostela, La Coruña, Spain

    Dora B. Heras

  3. University of Lisbon, Lisbon, Portugal

    Aleksandar Ilic

  4. Koç University, Istanbul, Turkey

    Didem Unat

  5. Barcelona Supercomputing Center, Barcelona, Spain

    Rosa M. Badia

  6. University of Stirling, Stirling, UK

    Andrea Bracciali

  7. Louisiana State University, Baton Rouge, USA

    Patrick Diehl

  8. Mathematics and Computer Science, Argonne National Laboratory, Lemont, IL, USA

    Anshu Dubey

  9. Ajou University, Suwon, Korea (Republic of)

    Oh Sangyoon

  10. Tennessee Technological University, Cookeville, TN, USA

    Stephen L. Scott

  11. University of Pisa, Pisa, Italy

    Laura Ricci

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Barbàra, F., Murru, N., Schifanella, C. (2022). Towards a Broadcast Time-Lock Based Token Exchange Protocol. In: Chaves, R., et al. Euro-Par 2021: Parallel Processing Workshops. Euro-Par 2021. Lecture Notes in Computer Science, vol 13098. Springer, Cham. https://doi.org/10.1007/978-3-031-06156-1_20

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  • DOI: https://doi.org/10.1007/978-3-031-06156-1_20

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  • Online ISBN: 978-3-031-06156-1

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