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A DLT-based Smart Contract Architecture for Atomic and Scalable Trading
arXiv - CS - Cryptography and Security Pub Date : 2021-05-06 , DOI: arxiv-2105.02937
J. Kalbantner, K. Markantonakis, D. Hurley-Smith, C. Shepherd, B. Semal

Distributed Ledger Technology (DLT) has an enormous potential but also downsides. One downside of many DLT systems, such as blockchain, is their limited transaction throughput that hinders their adoption in many use cases (e.g., real-time payments). State channels have emerged as a potential solution to enhance throughput by allowing transactions to process off-chain. While current proposals can increase scalability, they require high collateral and lack support for dynamic systems that require asynchronous state transitions. Additionally, the latency of channel initialisations can cause issues especially if fast interactions are required. In this paper, we propose an atomic, scalable and privacy-preserving protocol that enables secure and dynamic updates. We develop a smart contract-based Credit-Note System (CNS) that allows participants to lock funds before a state channel initialisation, which enhances flexibility and efficiency. We formalise our model using the Universal Composability (UC) framework and demonstrate that it achieves the stated design goals of privacy, scalability, and atomicity. Moreover, we implement a dispute process in the state channel to counter availability attacks. Finally, we analyse the protocol in the context of an asynchronous smart grid-based marketplace.

中文翻译:

用于原子和可扩展交易的基于DLT的智能合约体系结构

分布式账本技术(DLT)具有巨大的潜力,但也有缺点。许多DLT系统(例如区块链)的缺点之一是交易吞吐量有限,这阻碍了它们在许多用例(例如实时支付)中的采用。状态通道已经成为通过允许事务处理脱链来提高吞吐量的潜在解决方案。尽管当前的提议可以提高可伸缩性,但它们需要很高的抵押,并且对需要异步状态转换的动态系统缺乏支持。此外,通道初始化的延迟可能会引起问题,尤其是在需要快速交互的情况下。在本文中,我们提出了一种原子的,可伸缩的和隐私保护的协议,该协议可以实现安全和动态的更新。我们开发了一个基于智能合约的信用票据系统(CNS),该系统可使参与者在状态通道初始化之前锁定资金,从而提高灵活性和效率。我们使用通用可组合性(UC)框架对我们的模型进行形式化,并证明该模型达到了隐私,可伸缩性和原子性的既定设计目标。此外,我们在状态渠道中实施了争议流程,以应对可用性攻击。最后,我们在基于异步智能网格的市场环境中分析该协议。我们在状态渠道中实施了争议处理程序,以应对可用性攻击。最后,我们在基于异步智能网格的市场环境中分析该协议。我们在状态渠道中实施了争议处理程序,以应对可用性攻击。最后,我们在基于异步智能网格的市场环境中分析该协议。
更新日期:2021-05-10
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