Blockchain Interoperability: Towards a Sustainable Payment System

Debasis Mohanty, Divya Anand, Hani Moaiteq Aljahdali, Santos Gracia Villar
2022 Sustainability  
The highly fragmented blockchain and cryptocurrency ecosystem necessitates interoperability mechanisms as a requirement for blockchain-technology acceptance. The immediate implication of interchain interoperability is automatic swapping between cryptocurrencies. We performed a systematic review of the existing literature on Blockchain interoperability and atomic cross-chain transactions. We investigated different blockchain interoperability approaches, including industrial solutions,
more » ... them and identified the key mechanisms used, and list several example projects for each category. We focused on the atomic transactions between blockchain, a process also known as atomic swap. Furthermore, we studied recent implementations along with architectural approaches for atomic swap and deduced research issues and challenges in cross-chain interoperability and atomic swap. Atomic swap can instantly transfer tokens and significantly reduce the associated costs without using any centralized authority, and thus facilitates the development of a sustainable payment system for wider financial inclusion.
doi:10.3390/su14020913 fatcat:kuprahfrunf5rd6bsngsex4x6u