Transferring Ledger Assets Between Blockchains Via Pegged Sidechains

  • Published: Nov 10, 2016
  • Earliest Priority: May 07 2015
  • Family: 1
  • Cited Works: 0
  • Cited by: 57
  • Cites: 0
  • Additional Info: Full text
Abstract

Systems and methods are described for transferring an asset from a parent chain to a sidechain. A simplified payment verification (SPV) proof associated with the parent chain asset may be generated. The SPV proof may include a threshold level of work. The SPV proof associated with the parent chain asset may be validated, and a sidechain asset corresponding to the parent chain asset may be generated. If no reorganization proof is detected, the sidechain asset is released. To redeem the sidechain asset in the parent chain, a SPV proof associated with the sidechain asset may be generated. The parent chain may validate the SPV proof associated with the sidechain asset. The parent chain asset associated with the sidechain asset may be held for a second predetermined contest period. The parent chain asset may then be released if no reorganization proof associated with the sidechain asset is detected.


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Document History
  • Publication: Nov 10, 2016
  • Application: May 9, 2016
    US US 201615150032 A
  • Priority: May 9, 2016
    US US 201615150032 A
  • Priority: May 7, 2015
    US US 201562158432 P

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