Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: Strong Federations: An Interoperable Blockchain Solution to Centralized
  Third-Party Risks   Bitcoin, the first peer-to-peer electronic cash system, opened the door to
permissionless, private, and trustless transactions. Attempts to repurpose
Bitcoin's underlying blockchain technology have run up against fundamental
limitations to privacy, faithful execution, and transaction finality. We
introduce \emph{Strong Federations}: publicly verifiable, Byzantine-robust
transaction networks that facilitate movement of any asset between disparate
markets, without requiring third-party trust. \emph{Strong Federations} enable
commercial privacy, with support for transactions where asset types and amounts
are opaque, while remaining publicly verifiable. As in Bitcoin, execution
fidelity is cryptographically enforced; however, \emph{Strong Federations}
significantly lower capital requirements for market participants by reducing
transaction latency and improving interoperability. To show how this innovative
solution can be applied today, we describe \emph{\liquid}: the first
implementation of \emph{Strong Federations} deployed in a Financial Market.

28
The categories of this paper are: alg-geom
24
The categories of this paper are: dg-ga
11
The categories of this paper are: hep-lat
16
The categories of this paper are: stat
23
The categories of this paper are: solv-int
20
The categories of this paper are: acc-phys
22
The categories of this paper are: chao-dyn
31
The categories of this paper are: ao-sci
4
The categories of this paper are: cond-mat
0
The categories of this paper are: hep-ph
19
The categories of this paper are: eess
35
The categories of this paper are: mtrl-th
18
The categories of this paper are: econ
37
The categories of this paper are: supr-con
3
The categories of this paper are: physics
13
The categories of this paper are: quant-ph