An Inter-Blockchain Escrow Approach For Fast Bitcoin Payment
2020 IEEE 40TH INTERNATIONAL CONFERENCE ON DISTRIBUTED COMPUTING SYSTEMS (ICDCS)(2020)
摘要
In recent years, the Bitcoin (BTC) payment is increasingly popular in retailers and service providers. A BTC transaction (tx) needs six confirmations (one hour) to be validated, making it not suitable for fast-pay scenarios. Theoretically, a shorter waiting time period increases the success possibility of a double-spending attack. To address this problem, we propose BTCFast scheme to support fast BTC tx. BTCFast is a novel, decentralized, escrow-based scheme on top of the programmable smart contract (PSC)-enabled blockchains (e.g. Ethereum, EOS). We develop a smart contract (PayJudger) to work as a trusted payment judger, which guarantees the tx fairness. In addition, we devise a proof-of-work (PoW)-based payment judgment mechanism for PayJudger to resolve a BTC payment dispute. Our theoretical and experimental results show that BTCFast can reduce the waiting time to be less than 1 second with comparable security as the current approach (i.e., waiting for six confirmations) with no extra operation fee.
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关键词
Bitcoin, fast payment, double-spending attack, Ethereum, smart contract
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