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Hash time locked contract based asset exchange solution for probabilistic public blockchains

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Abstract

The rapid growth of blockchain technology is giving rise to siloed blockchains. Blockchains can efficiently store values and assets, but their inability to interoperate is reducing their usability. Lack of cross-chain exchange of assets and data is hindering the novel developments using blockchain technology. Interoperability solutions designed for blockchains mostly use a trusted third party: centralized or decentralized. Atomic swap solutions provide cross-chain asset exchange without involving any trusted third party. However, most of the atomic swap solutions proposed in the literature are for private blockchain and are not practically implemented. This paper proposes a solution for implementing an atomic swap between public blockchains using Hash Time Locked Contract (HTLC). We have also formulated the time-lock equations using the confirmation time of probabilistic blockchains to be used in HTLC. The accuracy of proposed time-lock equations and the performance of the atomic swap solution is evaluated by implementing HTLC between Ethereum and Tron blockchains. Redeem and refund functions of HTLC are implemented as conflicting events, and only one of the two can execute for an atomic swap. The implemented atomic swap solution maintains atomicity and adheres to time-lock values calculated using the proposed time-lock equations.

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Data availability

The data underlying this article is available in the GitHub repository. (https://github.com/creatloper/AssetExchange).

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  1. Punjab Engineering College (Deemed to be University), Chandigarh, India

    Monika, Rajesh Bhatia, Arnav Jain & Baljeet Singh

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  1. Monika
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  2. Rajesh Bhatia
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  4. Baljeet Singh
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Correspondence to Monika.

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Monika, Bhatia, R., Jain, A. et al. Hash time locked contract based asset exchange solution for probabilistic public blockchains. Cluster Comput 25, 4189–4201 (2022). https://doi.org/10.1007/s10586-022-03643-x

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  • DOI: https://doi.org/10.1007/s10586-022-03643-x

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