Paper 2018/262

Chimeric Ledgers: Translating and Unifying UTXO-based and Account-based Cryptocurrencies

Joachim Zahnentferner

Abstract

Cryptocurrencies are historically divided in two broad groups with respect to the style of transactions that they accept. In the account-based style, each address is seen as an account with a balance, and transactions are transfers of value from one account to another. In the UTXO-based style, transactions inductively spend outputs generated by previous trans- actions and create new unspent outputs, and there is no intrinsic notion of account associated with an address. Each style has advantages and disadvantages. This paper formally defines: the two styles; translations that allow to simulate one style by the other; new transaction types that allow both styles of transactions to co-exist on the same ledger; and a new transaction type that combines features from both styles.

Metadata
Available format(s)
PDF
Category
Applications
Publication info
Preprint.
Keywords
BlockchainBitcoinEhtereumCryptocurrency
Contact author(s)
chimeric ledgers @ protonmail com
History
2018-03-12: received
Short URL
https://ia.cr/2018/262
License
Creative Commons Attribution
CC BY

BibTeX

@misc{cryptoeprint:2018/262,
      author = {Joachim Zahnentferner},
      title = {Chimeric Ledgers: Translating and Unifying UTXO-based and Account-based Cryptocurrencies},
      howpublished = {Cryptology ePrint Archive, Paper 2018/262},
      year = {2018},
      note = {\url{https://eprint.iacr.org/2018/262}},
      url = {https://eprint.iacr.org/2018/262}
}
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