With the advent of cryptocurrencies, blockchains have significantly gained interest in both finance and economics as well as research. Bitcoin, the first blockchain, together with the cryptocurrency of the same name, has not only demonstrated the usage of decentralized ledgers, but has also sparked significant subsequent research and development.
With the advent of a multitude of different blockchain implementations, most of which provide own cryptocurrencies, there is a vast variety of blockchain technologies and features. Blockchain technologies rely heavily on acceptance and utilization by a large amount of users. Therefore, emerging projects and blockchains bear the risk of becoming island solutions, and lack collaboration and interconnection with the blockchain community.
In order to approach these challenges, the project Token Atomic Swap Technolog (TAST) aims to create a platform for blockchain interoperability. Users should not be locked to a single blockchain technology by holding assets on one blockchain. Instead, we aim for realizing the freedom of moving assets between blockchains at will and with low costs.
At the heart of interoperation between blockchains lies the necessity of swapping assets between one blockchain and another. This is called an atomic swap, and represents the core technology used in TAST.
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
This project is funded by Pantos GmbH.