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Towards a Generalised Blockchain Fabric @ Dagstuhl, April 2018

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Slides from the Dagstuhl lightning talk on techniques and challenges of cross-chain interoperability

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Towards a Generalised Blockchain Fabric @ Dagstuhl, April 2018

  1. 1. Towards a Generalised Blockchain Fabric Alexei Zamyatin Dagstuhl Seminar “Blockchains Smart Contract and Future Applications” April 2018
  2. 2. Motivation Different Properties Privacy Scalability Security Expressiveness Transparency Consensus Finality Challenge: Secure, privacy preserving, scalable and decentralized cross-chain communication Today: Over 1500 heterogeneous cryptocurrencies
  3. 3. Why Decentralization?
  4. 4. Why Decentralization?
  5. 5. Why Decentralization? X
  6. 6. Why Decentralization? Miners Developers P2P Network
  7. 7. Cross-Blockchain Communication Today • Assumption: (Most) permissionless blockchains are decentralized • How about the communication between these systems? • Centralized liquidity providers necessary • „Trusted“ 3rd parties (exchanges, …)
  8. 8. Transfer via Liquidity Providers Liquidity Provider (LP) Bob‘s BTC Wallet Bob‘s BTC Account Bob‘s ETH Account Alice‘s ETH Wallet LP‘s BTC Wallet LP‘s ETH Wallet LP fee Tx fee Tx fee BTC‘s P2P Network ETH‘s P2P Network
  9. 9. Properties Relevant for Interoperability Interoperability Privacy Scalability Security Expressiveness Transparency Consensus Finality (Simplified)
  10. 10. Properties Relevant for Interoperability (Non-Exhaustive Example!)
  11. 11. General Categorization of Approaches
  12. 12. Outlook • Rapidly increasing number of projects promising „Multi-blockchain protocols“ • Often limited technical details provided  unclear how exactly communication will be facilitated. • Many rely on versions of atomic swaps or chain relays under a (semi-) centralized setup • Active development • 1:1 Bridges between Ethereum and other networks in development • Lightning cross-chain swaps between BTC and LTC • Overlay protocols / Colored Coins • … • No “truly decentralized” solution yet  Alarming shift towards centralized approaches
  13. 13. Questions? Alexei Zamyatin a.zamyatin@imperial.ac.uk PGP ID: 0x5485B999 PGP FP: 2F5F E92D CDAC 15B0 84A6 9FE9 9018 A958 5485 B999

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