Blockchains

• public vs private
• open vs closed
• decentralized vs centralized
• secure vs insecure

Cross Chain Bridges

Source: Dmitriy Berenzon

Features

• Pay for storage on Arweave using Bitcoin
• Join a PartyBid for an NFT on Tezos
• Arbitrage SUSHI prices across DEXs on other chains

Implementations

• Trusted Party
• Insured / Bonded
• Protocol / Smart Contracts

Hashed Timelock Contract (HTLC)

Trustless Bridge

Bob

Alice

2:1

#

Bob

Alice

2:1

#

Bob

Alice

Secret

2:1

#

Bob

Alice

Secret

2:1

#

Bob

Alice

2:1

#

Bob

Alice

Before timeout

2:1

#

Bob

Alice

After timeout

Problem

• Off-chain coordination
• Change of exchange rate

Hashed Timelock Contract (Catamaran Swap)

2:1

Bob

Alice

2:1

Bob

Alice

2:1

Bob

Alice

2:1

Bob

Alice

2:1

Bob

Alice