Computationally sound Bitcoin tokens
Massimo Bartoletti, Stefano Lande, Roberto Zunino

TL;DR
This paper introduces a secure, efficient method for implementing fungible tokens on Bitcoin using a minimal extension of its scripting language, ensuring computational soundness against adversaries.
Contribution
It presents a novel Bitcoin token implementation leveraging script extensions that guarantees computational soundness, a significant advancement over prior approaches.
Findings
Implementation is computationally sound against adversaries.
Requires only a small extension to Bitcoin's script language.
Ensures tokens cannot diverge from their ideal functionality with high probability.
Abstract
We propose a secure and efficient implementation of fungible tokens on Bitcoin. Our technique is based on a small extension of the Bitcoin script language, which allows the spending conditions in a transaction to depend on the neighbour transactions. We show that our implementation is computationally sound: that is, adversaries can make tokens diverge from their ideal functionality only with negligible probability.
Peer Reviews
No public reviews on file for this paper yet. If you reviewed it on a platform where reviews are public (OpenReview, ICLR, NeurIPS, ICML), you can paste yours below so the community can read it here.
Videos
No videos yet. Explain this paper in a talk, walkthrough, or lecture? Add one.
