UBC Theses and Dissertations
HotGate : trustless cross-chain settlement protocol Daneshpajooh, Mahyar
The concept of blockchain was introduced by Nakamoto in the Bitcoin whitepaper. Bitcoin enabled users to make payments in a fully-decentralized manner. In the past decade, researchers and engineers leveraged the Bitcoin idea and proposed blockchains with different characteristics (such as level of security, privacy, and decentralization), each focusing on a particular area. One way to classify blockchains is based on their programmability. A programmable blockchain enables developers to run their programs on top of it. This way, the execution of programs becomes decentralized so no one can manipulate the result. Currently, many dApps are built on top of programmable blockchains such as exchanges, lending protocols, etc. Bitcoin, although its promising security, doesn't have the programming capability to build dApp on it. In this work, I introduce and implement HotGate, a trustless cross-chain settlement protocol that enables users to move BTC from Bitcoin to other programmable blockchains. So users can leverage their BTC in dApps of other blockchains. Moreover, HotGate enables users to exchange their BTC for assets that exist on these blockchains. HotGate uses Relay, a fully-decentralized interoperability solution that connects blockchains directly together. This makes Hotgate a trustless protocol that is aligned with blockchain values. Moreover, HotGate introduces two mechanisms that enable users to move BTC in a fast and private manner, which are the weaknesses of the Bitcoin blockchain.
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