IETF Secure Asset Transfer Protocol
Industry Initiatives
Overview
Initiative Name | Secure Asset Transfer Protocol (satp) |
Organization | Internet Engineering Task Force |
Type | Standard |
Description | The goal of the Secure Asset Transfer Protocol (SATP) working group is to develop a standard protocol that operates between two peer gateways for the purpose of transferring digital assets between an originator in the origin network to a beneficiary in a destination network. The protocol is agnostic with respect to the type of asset being transferred, and the type of networks. |
Ecosystem | Agnostic |
Public Participants | MIT Quant Network Blockdaemon Aiven IBM Other confirmed confidential participants |
Date Started | 2020 |
Status | Draft - Under development |
Link |
The IETF Secure Asset Transfer Protocol (SATP) specification was initiated by IBM and Quant Network in 2020. It utilizes a burn-and-mint paradigm to move assets between origin and destination networks and ensures properties like atomicity, consistency, isolation and durability. The specification covers architectural aspects like APIs, flows, identifiers and resource descriptors. It also defines protocols for identity verification, transfer initiation, asset locking, and commitment finalization. Transfer resumption, errors, and security considerations are addressed.
It is important to note that the SATP is still in the development phase. Nevertheless, in its current state, SATP provides a concrete asset transfer protocol that can be implemented for production systems. It is intended to be blockchain-agnostic and focuses narrowly on the gateway-to-gateway transmission aspects. As such, it stands as a robust standard for how regulated digital asset transfers can be achieved securely using a coordinated burn-and-mint mechanism.
Organizations and projects interested in ensuring secure and standardized asset transfers across multiple DLTs should consider staying up to date on the IETF SATP's development and updates.
Analysis
Scope and Purpose | |
Target Audience | DLT developers, Researchers, Product Managers and technical stakeholders interested in secure asset transfers across multiple opaque distributed networks. |
Coverage | Defines architecture, messaging flows, and cryptographic methods for atomic transfers of digital assets between distributed networks. |
Technical Aspects | |
Architecture | Gateway-to-gateway protocol operating between two endpoints. Uses asset burn-and-mint paradigm. |
Interoperability | Provides standardized APIs. |
Security Measures | Cryptographic signatures, proofs, and hashes to ensure integrity and non-repudiation. |
Adoption and Implementation | |
Vendor-agnostic Reference implementation | |
Current Adopters/Vendor Implementations | Is there a quant implementation? |
Case Studies | None |
Ease of Implementation | |
Governance and Update Mechanism | |
Oversight Body | Internet Engineering Task Force (IETF) - SATP WG |
Update Mechanism | IETF update processes, which typically involve community feedback, working group discussions, and iterative draft versions. |
Strengths and Weaknesses | |
Advantages | |
Challenges | |
Compatibility and Integration | |
Inter-standard Compatibility | |
Extensibility | Given its design, SATP is likely to be extensible to accommodate future changes or additions, |
Community and Support | |
Community Engagement | |
Support Channels | IETF community forums, mailing lists, and working group meetings. |
Future Roadmap | |
Next Step | |
Long-term Vision | |
Comparative Analysis | |
Comparative Analysis |
Reviewer
We have contacted or we will contact the proposed reviewer.
Proposed reviewer: Dr Thomas Hardjono, CTO of Connection Science and Technical Director of the MIT Trust-Data Consortium at MIT
Review status: Not started.
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