Multi-Party Cross-Chain Asset Transfers

Existing interoperability mechanisms usually en-compass asset exchanges, asset transfers, and general data transfers. However, most of the solutions based on these mechanisms work only for pairs of permissionless blockchains, falling short in use cases that require more complex business relationships. Furthermore, contrary to existing legacy systems, there is little standardization for cross-domain communication, which multiple players in industry and academia are exploring. We present the Multi-Party Secure Asset Transfer Protocol (MP-SATP), a resilient multi-party asset transfer protocol built on top of the Secure Asset Transfer Protocol (SATP), which is being developed by theInternet Engineering Task Force(IETF). Furthermore, we enhance SATP’s crash recovery mechanism to improve the reliability and performance of our solution. Using MP-SATP, we explain how to perform N -to-N resilient asset transfers in permissioned environments by decoupling them into multiple 1-to-1 asset transfers. Our results show that the latency of the protocol is driven by the latency of the slowest 1-to-1 session and that the use of backup gateways avoids the overhead caused by rollbacks.