R-SWAP: Relay based atomic cross-chain swap protocol

In this presentation, we consider the problem of cross-chain transactions where parties that do not trust each other safely exchange digital assets across blockchains. Open blockchains models are decentralized ledgers that keep records of transac- tions. They are comparable with distributed account books. While they have proven their potential as a store of value, exchanging assets across several blockchains remains a challenge. We propose a new protocol, R-SWAP, for cross-chain swaps that outperforms existing solutions. Our protocol is built on top of two abstractions: relays and adapters that we formalize for the first time. Furthermore, we prove the correctness of R-SWAP and analytically evaluate its performances, in terms of cost and latency. Moreover, we evaluate the performances of R-SWAP in two case studies showing the generality of our approach: atomic swaps between Ethereum and Bitcoin (two popular permissionless blockchains) and atomic swaps between Ethereum and Tendermint (one permissionless and one permis- sioned blockchain).