CrossLedger: A Pioneer Cross-chain Asset Transfer Protocol

Abstract

With the advent of cross-chain, moving assets across blockchain is now possible on a decentralized network. In a decentralized environment, asset transfer to a random blockchain would eliminate committing to a single blockchain. Many domains, such as banking, smart healthcare, smart homes, and the industrial internet of things (IIoT), benefit from cross-chain applications of blockchain. Cross-chain implementation is still in its infancy and confronts issues in preserving many of the asset's features when transferred across the network. Using cross-chain for asset transfers necessitates the presence of five essential characteristics: non-repudiation, unlinkability, confidentiality, atomicity, and interoperability. We proposed CrossLedger, a new Cross-chain based technique for asset transfer that includes all of the features mentioned above. To keep the qualities described above, the CrossLedger uses a novel Asset Forwarder Selection (AFS), Trust Establishment (TE), and Asset Transfer and Confirmation (ATC) algorithms. The proof of characteristics demonstrates that CrossLedger supports all the aforementioned features for asset transfer. The security analysis proved that CrossLedger is protected from double-spending, liveness, and Sybil attacks.