Exchange assets across chains

Friedger Müffke
Crypto Wednesdays, Brussels

5 Januar 2022

Blockchains

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

Cross Chain Bridges

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

#

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

Code

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