Research and Implementation of Cross-Chain Transaction Model Based on Improved Hash-Locking

Abstract

Blockchain is a decentralized, trust-free distributed ledger technology which has been applied in various fields such as finance, supply chain, and asset management. However, the network isolation between blockchains has limited their interoperability in asset exchange and business collaboration since it forms blockchain islands. Cross-chain is an important technology aiming to realize the interoperability between blockchains, and has become one of the hottest research topics in this area. This paper proposes a cross-chain transaction model based on improved hash locking consulted by the notary and users, which can solve the security problems in traditional hash locking. It can prevent malicious participants from creating large traffic blocking channels based on the key of unlocking condition. At the same time, the scheme of notary multi-signature is designed to solve the problem of lack of trust in traditional model. The transaction process of cross-chain, key agreement, cooperation mechanism of cross-chain, and security analysis based on the model is given in detail. Experiments of cross-chain transactions are implemented in Ethereum private chain, and prove that the proposed model has good application abilities.