Novel Hash-time-lock-contract Based Cross-chain Token Swap Mechanism of Blockchain

Abstract

Blockchain is one of the technical hotspots in recent years,and the research theories related to it are being enriched.However,it is still facing the key problem of small throughput and low processing efficiency before it can be implemented into the industry.In response to this problem,cross-chain technology has been widely focused as a blockchain technology that has the potential to both expand throughput processing capacity and improve processing efficiency.This paper presents a novel hash-time-lock-contract based cross-chain token swap mechanism (NCASP),which creatively introduces an account system for the Fabric blockchain and integrates smart contract technology to achieve secure and seamless asset exchange between the Ethernet and Fabric blockchain network.The NCASP protocol sets up different intermediate accounts for asset escrow and transfer in each HTLC transfer,and destroys them in time after the transaction is completed,making the original cross-chain transaction rate unchanged while ensuring the security of the transaction.Simulation of the protocol shows that the protocol is applicable to the federated chain represented by Fabric and the public chains represented by Bitcoin and Ethernet,can achieve efficient and secure cross-chain asset exchange without the intervention of third-party blockchains,and can save about 26.8% in transaction efficiency compared with the cross-chain scheme of BSN (blockchain service network).The improved protocol extends the usage scenarios of the traditional HTLC cross-chain asset schemes,enabling the exchange of assets between different users with a balance of atomicity,fairness and transparency.

Keywords

• blockchain cross-chain technology|hash time lock|asset exchange|man-in-the-middle accounts|ethereum|fabric