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Peatio - An open-source crypto currency exchange

Peatio - An open-source crypto currency exchange

On cryptocurrency exchange proof of solvency & open source.
Presented at Global Bitcoin Summit, Beijing China

Wei Lu

May 11, 2014
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  1. solvency (n.) Having assets in excess of liabilities; able to

    pay one’s debts. http://www.oxforddictionaries.com/definition/english/solvent ‹7vŒaF;c^t …fŠ
  2. ฿1" 97c1f3 ฿1" 905e38 ฿2" e664c9 ฿3" dbbb44 Charlie Wei

    Alice Bob ฿7
 6ae843 ฿2" a0670a ฿5
 4b97a0
  3. ฿1" 97c1f3 ฿1" 905e38 ฿2" e664c9 ฿3" dbbb44 Charlie Wei

    Alice Bob ฿6
 d017ee ฿2" a0670a ฿5
 4b97a0 Root forgery lK!e
  4. ฿1" 97c1f3 ฿0" 8c2724 ฿2" e664c9 ฿3" dbbb44 Charlie Wei

    Alice Bob ฿6
 041a2a ฿1" cf83de ฿5
 4b97a0 Incoherent user balance J]H|
  5. ฿1" 97c1f3 ฿-1" 51e28e ฿2" e664c9 ฿3" dbbb44 Fake Charlie

    Wei Alice Bob ฿5
 ee0a14 ฿0" bb3d81 ฿5
 4b97a0 Fake user de]
  6. + Signature"  Latest Block Hash"  = Address" 

    Private Key" " Secret qs Public >
  7. What can I do as a user? Demand solvent proof

    from your exchange Learn how to verify solvency & do it regularly Alert community upon discovery of discrepancies 4](=$Ž O9SYV6Tx†t.i1 'D)gib`I0Mgi &AM w„
  8. Open Source Crypto PGP, SSL, S/MIME, IPSec, SSH, DES, AES

    http://www.faqs.org/docs/artu/ch01s06.html
  9. “Comparing the security of Linux with that of Microsoft Windows

    is not very instructive. Microsoft has done such a terrible job with security that it is not really a fair comparison.” — Bruce Schneier “LinuxC/<rWindows?BZ M{@Šr508C/@( m [  A>LBkŠ” — Bruce Schneier
  10. OCB Mode Cipher Code Size Speed (MB/sec) AES/GCM large 108

    AES/CCM smaller 61 AES/EAX smaller 61 "AES/OCB smallest 129
  11. Matching Engine Performance Server: 8 Cores, 16G memory, 100G 128MB/s

    SSD 2 app server (running 16 executors each) 1 database server 1,000 orders/sec YVo‡@
  12. References • http://www.coindesk.com/mt-gox-trading-halts-bitcoin-businesses-move-assure-investors/ • https://iwilcox.me.uk/2014/proving-bitcoin-reserves • http://en.wikipedia.org/wiki/Merkle_tree • https://github.com/olalonde/proof-of-assets •

    https://github.com/olalonde/proof-of-liabilities • http://readwrite.com/2013/05/07/study-reveals-open-source-software-quality-is-higher-than- proprietary-code-up-to-a-point • https://www.schneier.com/crypto-gram-9909.html • http://spark-university.s3.amazonaws.com/stanford-crypto/slides/07-authenc-v2-annotated.pdf • http://www.coindesk.com/exchanges-must-still-prove-themselves-customers/ • http://www.coindesk.com/bitstamp-audit-proves-behind-147m-mystery-bitcoin-wallet/
  13. Attributions User designed by Luis Prado from the Noun Project

    Lock designed by Ugur Akdemir from the Noun Project Magnifier designed by Vassilis Terzopoulos from the Noun Project Refresh designed by Mourad Mokrane from the Noun Project Shield designed by Steffen Nørgaard Andersen from the Noun Project