CVEM

Abstract

Blockchain is distributed ledger with the advantage of high security, tamper resistant and traceability. However, in the process of the growth of Blockchain, network isolation hinders the cooperative operation among different Blockchains and greatly restricts the development of Blockchain. There is an urgent need to break the barriers among Blockchains[1], thus cross-chain communication become a new trend of the Blockchain technology[2]. In this paper, we propose CVEM, a value exchange mechanism which supports different kind of tokens transfer cross-chain. First, we put the main exchange process execute off-chain and the final result on-chain. Then, we combine Revocable Sequence Maturity Contract (RSMC) with the idea of cross-token exchange of Blockchain, and use the mechanism of multi-signatures address to constrain the users' behaviors. In addition, we introduce the Simple Payment Verification Proof (SPV Proof) to verify transactions. Our work, to some degree, shortens the transaction process delay and also ensures the security and scalability of the value exchange.