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The cryptocurrency ecosystem has seen significant growth with Ethereum and Bitcoin as foundational pillars. Ethereum introduced smart contracts revolutionizing decentralized applications (dApps) across various domains. Scalability challenges led to alternative ecosystems like Binance Smart Chain and Polygon, maintaining compatibility through the Ethereum Virtual Machine (EVM). Bitcoin also faces scalability issues, leading to the Lightning Network's development—an off-chain solution with payment channels for scalable instant transactions. Interoperability is increasingly crucial as the cryptocurrency ecosystem continues to grow, enabling seamless interactions between assets and data across multiple blockchain platforms. EVM-compatible blockchains and the Lightning Network offer unique advantages in their respective use cases. This paper utilizes atomic swaps to create a secure, fast, and user-friendly trustless bridge between the Lightning Network and EVM-compatible blockchains, fostering the growth of both ecosystems and unlocking novel opportunities.
Humans started using the principles of insurance thousands of years ago when they lived in tribes in smaller villages. If one of the tribe members were injured, the others would take care of him and his family. The basic principle of insurance is several people covering each other against a particular risk. Today, most people in regions like Europe have access to insurance, while many people worldwide still have no access at all. The cost and accessibility may be improved with a blockchain-based parametric approach. The insurance process in a parametric approach is exclusively based on data, and decisions are made objectively. Blockchain is a necessary and integral part of the approach to create transparency and connect the customer’s and investor’s risk capital. The paper offers an overview of the opportunities and challenges of blockchain-based parametric insurance, a catalog of criteria for such insurance, a description of all components and their interaction for implementation on Ethereum, and a reference implementation of a train delay insurance in Germany.
To enable smart devices of the internet of things to be connected to a blockchain, a blockchain client needs to run on this hardware. With the Trustless Incentivized Remote Node Network, in short Incubed, it will be possible to establish a decentralized and secure network of remote nodes, which enables trustworthy and fast access to a blockchain for a large number of low-performance IoT devices. Currently, Incubed supports the verification of Ethereum data. To serve a wider audience and more applications this paper proposes the verification of Bitcoin data as well, which can be achieved due to the modularity of Incubed. This paper describes the proof data that is necessary for a client to prove the correctness of a node’s response and the process to verify the response by using this proof data as well. A proof-object which contains the proof data will be part of every response in addition to the actual result. We design, implement and evaluate Bitcoin verification for Incubed. Creation of the proof data for supported methods (on the server-side) and the verification process using this proof data (on the client-side) has been demonstrated. This enables the verification of Bitcoin in Incubed.