Cryptology ePrint Archive: Report 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.

Category / Keywords: applications / Blockchain, Bitcoin, Ehtereum, Cryptocurrency

Date: received 11 Mar 2018

Contact author: chimeric ledgers at protonmail com

Available format(s): PDF | BibTeX Citation

Version: 20180312:115852 (All versions of this report)

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