Anonymous Atomic Swaps Using Homomorphic Hashing
8 Pages Posted: 30 Aug 2018 Last revised: 4 Feb 2021
Date Written: August 20, 2018
Since its introduction, the blockchain technology that underlies cryptocurrencies like bitcoin has created a revolution in the financial industry. As a public ledger of financial transactions it allows people all over the world to exchange value with each other. Although it affords some anonymity to its users, this anonymity can be broken for a network of transacting users if a single account of an individual within that network is linked to that individual’s identity. A number of solutions have been proposed but all have different limitations. This paper introduces a new technique by which a user is able to swap ownership of cryptocurrency coins with another user in an atomic fashion requiring no trust and without publicly linking the transactions of the swap on the public ledger. To an entity following a trail of cryptocurrency coins, such a swap would end the trail as it would not be obvious which coins the individual being investigated owns after the swap.
Keywords: atomic swaps, homomorphic hash, privacy
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