Atomic Swaps between Bitcoin and Monero

TL;DR

This paper explains a cryptographic protocol for atomic swaps between Bitcoin and Monero, enabling interoperability between these blockchains without relying on complex scripting, and discusses future enhancements using adaptor signatures on Monero.

Contribution

It introduces a novel atomic swap protocol using adaptor signatures applicable to Bitcoin and Monero, expanding blockchain interoperability beyond script-dependent methods.

Findings

Protocol successfully facilitates atomic swaps between Bitcoin and Monero.

Cryptographic details and limitations of the current protocol are analyzed.

Future work involves applying adaptor signatures to Monero's signature scheme.

Abstract

Due to the evergrowing blockchain ecosystem, interoperability has become a matter of great importance. Atomic swaps allow connecting otherwise isolated blockchains while adhering to the core principles of censorship resistance and permissionlessnes. Up until recently, atomic swap protocols have mostly relied on complex script support, excluding certain types of blockchains. With advances in cryptography, it is now possible to build a bridge between almost any two blockchains. In this work, we give an explanation of one such protocol which applies adaptor signatures on Bitcoin to procure atomic swaps between Monero and Bitcoin. We dive into the cryptographic details, discuss its limitations and give an outlook on our current work where we use adaptor signatures on the Monero signature scheme.