A Foundation for Ledger Structures

TL;DR

This paper presents a category-theoretic framework for designing ledger structures in cryptocurrencies, using compositional theories and graphical string diagrams to model resource history and ownership.

Contribution

It introduces a novel categorical approach to ledger design, enabling intuitive graphical representations and formal modeling of resource ownership.

Findings

Provides a formal categorical model for cryptocurrency ledgers.

Uses string diagrams to visualize ownership and resource flow.

Establishes a foundation for compositional ledger structures.

Abstract

This paper introduces an approach to constructing ledger structures for cryptocurrency systems with basic category theory. Compositional theories of resource convertibility allow us to express the material history of virtual goods, and ownership is modelled by a free construction. Our notion of ownership admits an intuitive graphical representation through string diagrams for monoidal functors.