XCLAIM - Trustless Interoperable Cryptocurrency Backed Assets

Explore a groundbreaking framework for trustless and efficient cross-blockchain trading in this IEEE Symposium on Security & Privacy presentation. Delve into XCLAIM, a novel approach that introduces cryptocurrency-backed assets (CbAs) to overcome the limitations of atomic cross-chain swaps. Learn about the protocols for issuing, transferring, swapping, and redeeming CbAs securely and non-interactively on existing blockchains. Discover the implementation of XCLAIM between Bitcoin and Ethereum, including cost analysis and performance comparisons with atomic cross-chain swaps. Gain insights into the system model, smart contract integration, chain relay mechanisms, and mitigation strategies for potential issues like race conditions and exchange rate fluctuations. Understand the broader implications of XCLAIM for cryptocurrency applications, including cross-chain payment channels and efficient multi-party swaps. Engage with the challenges and ongoing work in this cutting-edge field of blockchain interoperability.