Computationally sound Bitcoin tokens

@article{Bartoletti2021ComputationallySB,
  title={Computationally sound Bitcoin tokens},
  author={Massimo Bartoletti and Stefano Lande and Roberto Zunino},
  journal={2021 IEEE 34th Computer Security Foundations Symposium (CSF)},
  year={2021},
  pages={1-15}
}
We propose a secure and efficient implementation of fungible tokens on Bitcoin. Our technique is based on a small extension of the Bitcoin script language, which allows the spending conditions in a transaction to depend on the neighbour transactions. We show that our implementation is computationally sound: that is, adversaries can make tokens diverge from their ideal functionality only with negligible probability. 

Figures from this paper

References

SHOWING 1-10 OF 36 REFERENCES

Enhancing Bitcoin Transactions with Covenants

TLDR
This paper shows that covenants can be implemented with a new CHECKSIGFROMSTACK operation that verifies a signature for a message passed as an argument that allows one to programmatically query the transaction.

Bitcoin Covenants

TLDR
It is shown how covenants enable vaults, which disincentivize key theft by preventing an attacker from gaining full access to stolen funds, and how Bitcoin-NG can be implemented progressively as an overlay on top of the Bitcoin blockchain.

Bitcoin covenants unchained

TLDR
This paper proposes a formal model of covenants, which can be implemented with minor modifications to Bitcoin, and uses it to specify some complex Bitcoin contracts, and discusses how to exploit covenants to design high-level language primitives for Bitcoin contracts.

UTXOma: UTXO with Multi-Asset Support

TLDR
This paper proposes an extension of the UTXO model, where the accounting structure of a single cryptocurrency is replaced with a new structure that manages an unbounded number of userdefined, native tokens, which are called token bundles.

Native Custom Tokens in the Extended UTXO Model

TLDR
This paper state and prove a transfer result for inductive and temporal properties from state machines to the multi-asset EUTXO ledger, which was out of scope for the single-currency EUTxO ledger.

The Extended UTXO Model

TLDR
This research investigates whether it is possible to have expressive smart contracts, while keeping the semantic simplicity of the UTXO model, in a complex concurrent and distributed computing environment.

Multi-Currency Ledgers

This paper extends an abstract formal model of UTxObased and account-based transactions to allow the creation and use of multiple cryptocurrencies on a single ledger. The new model also includes a

Bitcoin Covenants: Three Ways to Control the Future

TLDR
The comparison shows precisely how soft-fork proposals improve the practicality of bitcoin covenants, through non-interactive enforcement and tighter cryptographic assumptions, to enhance custody protocols and enable some adversarial applications such as payment protocols.

Tokens, Types, and Standards: Identification and Utilization in Ethereum

  • Monika Di AngeloG. Salzer
  • Computer Science
    2020 IEEE International Conference on Decentralized Applications and Infrastructures (DAPPS)
  • 2020
TLDR
This work contributes to the detection and classification of crypto tokens from bytecode, and examines how ideas on regulation are currently incorporated into respective standards and investigates the actual usage of tokens.

Multi-stage Contracts in the UTXO Model

TLDR
This work describes how to emulate persistent storage in UTXO based systems using a technique called transaction trees, which allows us to emulate the functionality of account-based systems such as Ethereum without the overhead of accounts.