Unicity: Predicates and Atomic Swaps

Abstract

We generalize Unicity token ownership to programmable spending conditions called predicates, enabling smart-contract like functionality executed off-chain directly by relying parties rather than by consensus participants. We prove that the security properties of the Unicity execution layer are preserved under reduction to predicate family unforgeability. To demonstrate the utility of the model, we show how to implement trustless atomic swaps by using predicates.