Enabling Cross-Chain Transactions: A Decentralized Cryptocurrency Exchange Protocol

Tian, Hangyu; Xue, Kaiping; Luo, Xinyu; Li, Shaohua; Juan, Xu; Liu, Jianqing; Zhao, Jun; Wei, Dennis

doi:10.1109/tifs.2021.3096124

Cited by 64 publications

(22 citation statements)

References 15 publications

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“…16. To this end, the authors in [277] propose a distributed cryptocurrency trading system that employs a decentralized cryptocurrency exchange protocol. In this protocol, two types of consensus mechanisms (i.e., PoW and Proof of Deposit) are used to select the trustworthy users for a validation committee.…”

Section: Blockchain Scalability and Interoperabilitymentioning

confidence: 99%

A Full Dive into Realizing the Edge-enabled Metaverse: Visions, Enabling Technologies,and Challenges

Xu¹,

Ng²,

Lim³

et al. 2022

Preprint

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Dubbed "the successor to the mobile Internet", the concept of the Metaverse has grown in popularity. While there exist lite versions of the Metaverse today, they are still far from realizing the full vision of an immersive, embodied, and interoperable Metaverse. Without addressing the issues of implementation from the communication and networking, as well as computation perspectives, the Metaverse is difficult to succeed the Internet, especially in terms of its accessibility to billions of users today. In this survey, we focus on the edge-enabled Metaverse to realize its ultimate vision. We first provide readers with a succinct tutorial of the Metaverse, an introduction to the architecture, as well as current developments. To enable the ubiquitous, seamless, and embodied access to the Metaverse, we discuss the communication and networking challenges and survey cutting-edge solutions and concepts that leverage next-generation communication systems for users to be telepresent and teleoperate in the Metaverse. Moreover, given the high computation costs required, e.g., to render immersive 3D worlds and run data hungry artificial intelligence (AI) driven applications, we discuss the computation challenges and cloud-edge-end computation framework driven solutions to realize the Metaverse on resource-constrained edge devices. Next, we explore how blockchain technologies can aid in the interoperable development of the Metaverse, not just in terms of empowering the economic circulation of virtual usergenerated contents, but also to manage physical edge resources in a decentralized, transparent, and tamper-proof manner. Finally, we discuss the future research directions towards realizing the true vision of the edge-enabled Metaverse.

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Section: Blockchain Scalability and Interoperabilitymentioning

confidence: 99%

A Full Dive into Realizing the Edge-enabled Metaverse: Visions, Enabling Technologies,and Challenges

Xu¹,

Ng²,

Lim³

et al. 2022

Preprint

View full text Add to dashboard Cite

show abstract

“…Polkadot [40], Cosmos [41] To achieve cross-chain object interoperation by the relay chain. Medium Low Medium [42] High to communicate with each other. The relay chain scheme has high scalability, and supports multiple objects interoperability between blockchains connected to the relay chain.…”

Section: Relay Chainmentioning

confidence: 99%

MetaOpera: A Cross-Metaverse Interoperability Protocol

Li¹,

Chao²,

Yang³

et al. 2023

Preprint

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With the rapid evolution of metaverse technologies, numerous metaverse applications have arisen for various purposes and scenarios. This makes interoperability across metaverses becomes one of the fundamental technology enablers in the metaverse space. The aim of interoperability is to provide a seamless experience for users to interact with metaverses. However, the development of cross-metaverse interoperability is still in its initial stage in both industry and academia. In this paper, we review the state-of-the-art cross-metaverse interoperability schemes. These schemes are designed for specific interoperating scenarios and do not generalize for all types of metaverses. To this end, we propose MetaOpera, a generalized cross-metaverse interoperability protocol. By connecting to the MetaOpera, users and objects in metaverses that rely on centralized servers or decentralized blockchains are able to interoperate with each other. We also develop a proof-of-concept implementation for MetaOpera, evaluate its performance, and compare it with a state-of-the-art cross-metaverse scheme based on Sidechains. Simulation results demonstrate that the size of cross-metaverse proof and the average time of cross-metaverse transactions using the proposed solution are respectively about eight times and three times smaller than the Sidechains scheme. This paper also suggests a number of open issues and challenges faced by crossmetaverse interoperability that may inspire future research.

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“…Cross chains help in establishing a mutual trust procedure between users on different blockchains who are interested in swapping assets. In essence, cross chains act as the intermediary platform for inter-blockchain transactions [159,160].…”

Section: Cross Chainsmentioning

confidence: 99%

A Survey of Layer-Two Blockchain Protocols

Gangwal¹,

Gangavalli²,

Thirupathi³

2022

Preprint

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After the success of the Bitcoin blockchain, came several cryptocurrencies and blockchain solutions in the last decade. Nonetheless, Blockchain-based systems still suffer from low transaction rates and high transaction processing latencies, which hinder blockchains' scalability. An entire class of solutions, called Layer-1 scalability solutions, have attempted to incrementally improve such limitations by adding/modifying fundamental blockchain attributes. Recently, a completely different class of works, called Layer-2 protocols, have emerged to tackle the blockchain scalability issues using unconventional approaches. Layer-2 protocols improve transaction processing rates, periods, and fees by minimizing the use of underlying slow and costly blockchains. In fact, the main chain acts just as an instrument for trust establishment and dispute resolution among Layer-2 participants, where only a few transactions are dispatched to the main chain. Thus, Layer-2 blockchain protocols have the potential to transform the domain. However, rapid and discrete developments have resulted in diverse branches of Layer-2 protocols. In this work, we systematically create a broad taxonomy of such protocols and implementations. We discuss each Layer-2 protocol class in detail and also elucidate their respective approaches, salient features, requirements, etc. Moreover, we outline the issues related to these protocols along with a comparative discussion. Our thorough study will help further systematize the knowledge dispersed in the domain and help the readers to better understand the field of Layer-2 protocols.

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Enabling Cross-Chain Transactions: A Decentralized Cryptocurrency Exchange Protocol

Cited by 64 publications

References 15 publications

A Full Dive into Realizing the Edge-enabled Metaverse: Visions, Enabling Technologies,and Challenges

A Full Dive into Realizing the Edge-enabled Metaverse: Visions, Enabling Technologies,and Challenges

MetaOpera: A Cross-Metaverse Interoperability Protocol

A Survey of Layer-Two Blockchain Protocols

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