@inproceedings{Zamyatin:2019:10.1109/SP.2019.00085,
author = {Zamyatin, A and Harz, D and Lind, J and Panayiotou, P and Gervais, A and Knottenbelt, W},
doi = {10.1109/SP.2019.00085},
pages = {193--210},
publisher = {IEEE},
title = {XCLAIM: trustless, interoperable, cryptocurrency-backed assets},
url = {http://dx.doi.org/10.1109/SP.2019.00085},
year = {2019}
}

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TY  - CPAPER
AB  - Building trustless cross-blockchain trading protocols is challenging. Centralized exchanges thus remain the preferred route  to  execute  transfers  across  blockchains.  However,  these services  require  trust  and  therefore  undermine  the  very  nature of  the  blockchains  on  which  they  operate.  To  overcome  this,several  decentralized  exchanges  have  recently  emerged  which offer support for atomic cross-chain swaps (ACCS). ACCS enable the  trustless  exchange  of  cryptocurrencies  across  blockchains,and  are  the  only  known  mechanism  to  do  so.  However,  ACCS suffer significant limitations; they are slow, inefficient and costly,meaning  that  they  are  rarely  used  in  practice.We present XCLAIM: the first generic framework for achieving trustless and efficient cross-chain exchanges using cryptocurrency-backed assets(CBAs).   XCLAIM offers   protocols   for   issuing,transferring,   swapping   and   redeeming   CBAs   securely   in   anon-interactive  manner  on  existing  blockchains.  We  instanti-ate  XCLAIM between  Bitcoin  and  Ethereum  and  evaluate  our implementation;  it  costs  less  than  USD  0.50  to  issue  an  arbi-trary  amount  of  Bitcoin-backed  tokens  on  Ethereum.  We  show XCLAIMis  not  only  faster,  but  also  significantly  cheaper  than atomic  cross-chain  swaps.  Finally,  XCLAIMis  compatible  with the  majority  of  existing  blockchains  without  modification,  and enables several novel cryptocurrency applications, such as cross-chain  payment  channels  and  efficient  multi-party  swaps
AU  - Zamyatin,A
AU  - Harz,D
AU  - Lind,J
AU  - Panayiotou,P
AU  - Gervais,A
AU  - Knottenbelt,W
DO  - 10.1109/SP.2019.00085
EP  - 210
PB  - IEEE
PY  - 2019///
SN  - 2375-1207
SP  - 193
TI  - XCLAIM: trustless, interoperable, cryptocurrency-backed assets
UR  - http://dx.doi.org/10.1109/SP.2019.00085
UR  - https://eprint.iacr.org/2018/643
UR  - http://hdl.handle.net/10044/1/68377
ER  - 

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