Adapting the Secure Asset Transfer Protocol for Secure Cross-Network Asset Exchange

Abstract

The distributed ledger technology (DLT) landscape comprises a wide range of independent networks with little to none built-in interoperability. To be applied in traditional enterprises, these DLT systems must also interact with legacy systems with no support for the processes of a DLT. An important topic in DLT research is, therefore, to establish standardised protocols for cross-network transfer and exchange of data and assets. Ideally, these protocols should be general-purpose so that they can be applied on top of many different types of ledger systems. One such protocol, supporting asset transfer, is the Secure Asset Transfer Protocol (SATP or 'SAT protocol') in development by the Internet Engineering Task Force (IETF). The SATP Core protocol draft by Hargreaves et al. (2024) describes an interoperability protocol that can facilitate asset transfer between two DLT systems, as well as between a DLT system and a non-DLT system. In either case, the SAT protocol imposes no restrictions on the underlying system implementations. Building on this work, in this paper, we present an adaptation of SATP that facilitates cross-network asset exchanges. This asset exchange protocol, named the Secure Asset Exchange Protocol, inherits the key advantages of SATP but enables asset exchanges instead of asset transfers.