In the past years, cryptocurrencies, as well as blockchains, the underlying technology, have gained significant interest in finance and economics, research, and public attention in general. Bitcoin, the first implementation of a blockchain protocol in widespread use, sparked significant investment into research and development related to blockchains and cryptocurrencies. At the same time, increased attention has been given to use cases for blockchains beyond cryptocurrencies, such as runtime verification for business processes.
The research field of blockchains is rich and varied, with an ever-increasing number of technologies and implementations. Despite general positive momentum, however, structural problems exist within the blockchain community. The vast amount of blockchains in existence simultaneously causes severe fragmentation of the research and development field. Interoperability between blockchains is mostly impossible, with blockchains instead competing for users and developers
Within the Token Atomic Swap Technology (TAST) research project, we aim to create a platform for cross-blockchain interoperability. In a first step, we seek to enable cross-blockchain asset transfers in form of PAN, a cross-blockchain token. This token is envisioned to be freely transferable between blockchains by the user in a decentralized manner. In the long run, TAST aims to develop a decentralized, cross-blockchain data exchange solution, providing the basis for fostering cross-blockchain collaboration.
The overall aim of this project is to design a platform providing interoperability between blockchains. This is performed by aiming for the following goals:
- Identification of requirements for blockchains to implement atomic cross-blockchain token transfers
- Design of a token transfer protocol
- Prototypical implementation of atomic cross-blockchain token transfer using the PAN token
- Support cooperations of blockchain projects
- Enabling the capability of real-time arbitrage between distributed blockchain exchanges
In addition to publishing research results and findings in academic journals and conferences, the project is planned to yield four white paper publications.
- M. Borkowski, C. Ritzer, D. McDonald, S. Schulte. Caught in Chains: Claim-First Transactions for Cross-Blockchain Asset Transfers. White Paper, Technische Universität Wien. August 2018.
- M. Borkowski, D. McDonald, C. Ritzer, S. Schulte. Towards Atomic Cross-Chain Token Transfers: State of the Art and Open Questions within TAST. White Paper, Technische Universität Wien. May 2018.
This project is funded by Pantos GmbH.