Hash Time-Locked Contracts in ARK ecosystem
By Inkarias - 2019-11-09
Ark team has recently covered several aspects of the ecosystem through a blog series explaining the different technologies behind the name of Ark and has also shared some information for the upcoming transaction types and features built into ARK Core v2.6 and further. The next major introduction to be made into the system will be the Hash-time locked contracts which are currently still under work but brings a completely new notion about security. In short, HTLC transactions enable two parties to exchange tokens safely and securely at the protocol level, removing the need to trust an individual who could potentially be a bad actor and withdraw from a prior agreement once they have received their tokens. HTLC is a core requirement for cross-chain atomic swaps. The ARK Team feels a necessity to be cautious and to not include HTLC in the ARK Mainnet Core 2.6 upgrade, due to potential loss of funds in the event of a double-spend attack initiated by a network rollback and a lack of finality.