Secure Blockchain Interworking Using Extended Smart Contract

Abstract

SUMMARY Blockchain is a distributed ledger technology used for trading digital assets, such as cryptocurrency, and trail records that need to be audited by third parties. The use cases of blockchain are expanding beyond cryptocurrency management. In particular, the token economy, in which tokenized assets are exchanged across different blockchain ledgers, is gaining popularity. Cross-chain technologies such as atomic swap have emerged as security technologies to realize this new use case of blockchain. However, existing approaches of cross-chain technology have unresolved issues, such as application limitations on different blockchain platforms owing to the incompatibility of the communication interface and crypto algorithm and inability to handle a complex business logic such as the escrow trade. In this study, the ConnectionChain is proposed, which enables the execution of an extended smart contract using abstracted operation on interworking ledgers. Moreover, field experimental results using the system prototype are presented and explained.