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Brief Announcement: Brokering with Hashed Timelock Contracts is NP-Hard

Published: 23 July 2021 Publication History

Abstract

In recent years, many different cryptocurrencies have risen in popularity. Since coins vary in fiat value and functionality, it has become important to securely exchange between them. A common exchange method is hashed timelock contracts (HTLC). However, this method did not support brokerage transactions that allow parties to leverage assets they gain during the transaction. We consider HTLC with brokering. The transaction fees for HTLC is a direct function of the size of the leader set. Thus, brokers are interested in finding the minimum leader set of a given transaction graph. We show that finding the minimum leader set on general transaction graphs with brokering is NP-hard. We then introduce flower transaction graphs, a common type of transaction graphs with brokering, and show that finding the minimum leader set of a flower graph is also NP-hard through a reduction from the knapsack problem.

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MP4 File (PODC21-fp559.mp4)
Presentation video for "Brief Announcement: Brokering with Hashed Timelock Contracts is NP-Hard".

References

[1]
Maurice Herlihy. 2018. Atomic cross-chain swaps. In Proceedings of the 2018 ACM symposium on principles of distributed computing. 245--254.
[2]
Maurice Herlihy, Barbara Liskov, and Liuba Shrira. 2019. Cross-Chain Deals and Adversarial Commerce. Proc. VLDB Endow., Vol. 13, 2 (Oct. 2019), 100--113.
[3]
Narges Shadab, Farzin Houshmand, and Mohsen Lesani. [n.d.]. Cross-chain Transactions. In 2020 IEEE International Conference on Blockchain and Cryptocurrency .

Cited By

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  • (2023)Cross-Chain Swaps with Preferences2023 IEEE 36th Computer Security Foundations Symposium (CSF)10.1109/CSF57540.2023.00031(261-275)Online publication date: Jul-2023

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Published In

cover image ACM Conferences
PODC'21: Proceedings of the 2021 ACM Symposium on Principles of Distributed Computing
July 2021
590 pages
ISBN:9781450385480
DOI:10.1145/3465084
Permission to make digital or hard copies of part or all of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for third-party components of this work must be honored. For all other uses, contact the Owner/Author.

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Association for Computing Machinery

New York, NY, United States

Publication History

Published: 23 July 2021

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Overall Acceptance Rate 740 of 2,477 submissions, 30%

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  • (2023)Cross-Chain Swaps with Preferences2023 IEEE 36th Computer Security Foundations Symposium (CSF)10.1109/CSF57540.2023.00031(261-275)Online publication date: Jul-2023

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