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Application US20160330034
Published 2016-11-10
Transferring Ledger Assets Between Blockchains Via Pegged Sidechains
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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- 1. A method for transferring an asset from a parent chain to a sidechain, the method comprising:
sending, by a processor, a parent chain asset to an output of the parent chain; generating, by the processor for the output, a simplified payment verification (SPV) proof associated with the parent chain asset, the SPV proof comprising a threshold level of work, the generating taking place over a predetermined period of time; validating, by a sidechain validator server, that the SPV proof associated with the parent chain asset meets the threshold level of work indicated by the SPV proof; generating a sidechain asset corresponding to the parent chain asset; holding the sidechain asset for a predetermined contest period, during which the transferring is invalidated if a reorganization proof associated with the parent chain asset is detected in the parent chain; releasing the sidechain asset if no reorganization proof is detected; sending, by a second processor, the sidechain asset to an output of the sidechain; generating, by the second processor, a SPV proof associated with the sidechain asset; validating, by a parent chain validator server, the SPV proof associated with the sidechain asset; holding the parent chain asset for a second predetermined contest period, during which a release of the parent chain asset is denied if a reorganization proof associated with the sidechain asset is detected in the sidechain; and releasing the parent chain asset if no reorganization proof associated with the sidechain asset is detected.
- 10. A method for transferring an asset from a parent chain to a sidechain, the method comprising:
validating, by a sidechain validator server, a parent chain asset in response to receiving, by the sidechain validator server, a request to transfer the parent chain asset to the sidechain, the validating comprising determining if a proof of work associated with the parent chain asset is valid; generating a sidechain asset corresponding to the parent chain asset in response to determining that the proof of work is valid; sending the sidechain asset to an output of the sidechain in response to a request to transfer the sidechain asset back to the parent chain; generating a simplified payment verification (SPV) proof associated with the sidechain asset; validating, by the parent chain, the SPV proof associated with the sidechain; holding the parent chain asset for a predetermined contest period, during which a release of the parent chain asset is denied if a reorganization proof associated with the sidechain asset is detected in the sidechain; and releasing the parent chain asset if no reorganization proof associated with the sidechain asset is detected.
- 13. A method for creating and verifying a compressed version of a simplified payment verification (SPV) proof, the method comprising:
generating a blockheader for a block of a parent chain asset, the blockheader comprising a plurality of commitments, each commitment being associated with one of a plurality of past headers before the blockheader in a block history associated with the parent asset; storing the plurality of commitments of the generated blockheader in a Merkle tree; and verifying the validity of the blockheader, the verifying comprising:
extracting the plurality of commitments;
checking a block greater than one link back in the plurality of past headers; and
verifying, based on the checked block, that a work amount indicated by the blockheader exceeds a total target work proven by following direct predecessor links of the blockheader.
