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.

Computationally sound Bitcoin tokens

Bartoletti M.
;
Lande S.;
2021-01-01

Abstract

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.
2021
978-1-7281-7607-9
Bitcoin; Neighbourhood covenants; Tokens
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11584/330171
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