Disintermediation of Inter-Blockchain Transactions

TL;DR

This paper introduces Uberledger, a hierarchical meta-blockchain framework that enables direct inter-blockchain transactions without relying on trusted third parties, extending Bitcoin's principles to cross-chain payments.

Contribution

It proposes a novel hierarchical meta-blockchain protocol for secure, trustless inter-blockchain transactions, addressing limitations of existing solutions.

Findings

Uberledger enables direct cross-chain transactions.

The framework encapsulates facilitator fidelity information.

It extends Bitcoin's principles to inter-blockchain payments.

Abstract

Different versions of peer-to-peer electronic cash exist as data represented by separate blockchains. Payments between such systems cannot be sent directly from one party to another without going through a financial institution. Bitcoin provided part of the solution but its utility is limited to intra-blockchain transactions. The benefits are lost if a trusted third party is required to execute inter-blockchain transactions. We propose a solution to the inter-blockchain transaction problem using the same fundamental principles of Bitcoin. The protocol is described by the Uberledger framework, a hierarchical meta-blockchain layer that encapsulates information regarding the fidelity of peer-to-peer transaction facilitators.