Advertisement

A Distributed Digital Asset-Trading Platform Based on Permissioned Blockchains

  • Rong Wang
  • Wei-Tek Tsai
  • Juan He
  • Can Liu
  • Enyan Deng
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 11373)

Abstract

With the rapid development of cryptocurrencies, digital-asset transaction has become important, and the security and privacy of the centralized asset-trading platform are becoming serious. Distributed digital asset-trading platform has many characteristics such as high security and low transaction cost, thus received significant attention. In this paper, we first introduce distributed digital-asset-trading platforms, and evaluates currently available platforms by showing the strength and weakness of these platforms. Second, based on these analyses, we propose some principles of distributed digital-asset-trading platforms. Third, based on these principles, we put forward a novel exchange blockchain (EBC), which is based on permissioned blockchain (BC). We introduce the EBC system (EBCS), and analyse the performances of EBCS. Finally, we summarize and prospect future work of EBCS.

Keywords

Decentralized digital assets exchanges Exchange blockchain Permissioned blockchains Asset-trading platforms 

Notes

Acknowledgment

This work is supported by National Key Laboratory of Software Environment at Beihang University, National 973 Program (Grant No. 2013CB329601) and National Natural Science Foundation of China (Grant No. 61472032), (Grant No. 61672075) and (Grant No. 61690202).

References

  1. 1.
    Nakamoto, S.: Bitcoin: a peer-to-peer electronic cash system (2008)Google Scholar
  2. 2.
    Decker, C., Wattenhofer, R.: Bitcoin transaction malleability and MtGox. In: Kutyłowski, M., Vaidya, J. (eds.) ESORICS 2014. LNCS, vol. 8713, pp. 313–326. Springer, Cham (2014).  https://doi.org/10.1007/978-3-319-11212-1_18CrossRefGoogle Scholar
  3. 3.
    Baldwin, C., Poon, H.: Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong. http://www.reuters.com/article/us-bitfinex-hacked-hongkong-idUSKCN10E0KP. Accessed 28 Oct 2018
  4. 4.
    A Timeline: ShapeShift Hacking Incident (2016)Google Scholar
  5. 5.
    Kim, C.Y., Lee, K.: Risk management to cryptocurrency exchange and investors guidelines to prevent potential threats. In: 2018 International Conference on Platform Technology and Service (PlatCon). IEEE (2018)Google Scholar
  6. 6.
    WISeKey. Annual Report (2017). https://docs.wisekey.com/site/justdownload.html?id=63. Accessed 28 Oct 2018
  7. 7.
    Bhaskar, N.D., Chuen, D.L.K.: Bitcoin exchanges. In: Handbook of Digital Currency, pp. 559–573 (2015)CrossRefGoogle Scholar
  8. 8.
    0x: An open protocol for decentralized exchange on the Ethereum blockchain. https://0xproject.com/pdfs/0x_white_paper.pdf. Accessed 28 Oct 2018
  9. 9.
    KyberNetwork: A trustless decentralized exchange and payment service. https://home.kyber.network/assets/KyberNetworkWhitepaper.pdf. Accessed 28 Oct 2018
  10. 10.
    AirSwap (AST)-Whitepaper. https://whitepaperdatabase.com/airswap-ast-whitepaper/. Accessed 28 Oct 2018
  11. 11.
    Tsai, W.-T., Bai, X., Yu, L.: Design issues in permissioned blockchains for trusted computing. In: 2017 IEEE Symposium on Service-Oriented System Engineering (SOSE). IEEE (2017)Google Scholar
  12. 12.
    Tsai, W.-T., et al.: Intellectual-property blockchain-based protection model for microfilms. In: 2017 IEEE Symposium on Service-Oriented System Engineering (SOSE). IEEE (2017)Google Scholar
  13. 13.
    Tsai, W.-T., et al.: Application of Blockchain to Trade Clearing. In: 2018 IEEE International Conference on Software Quality, Reliability and Security Companion (QRS-C). IEEE (2018)Google Scholar
  14. 14.
    Stex Whitepaper. https://stex.exchange/media/pdf/whitepaper.pdf. Accessed 28 Oct 2018
  15. 15.
    Loopring Whitepaper. https://github.com/Loopring/whitepaper. Accessed 28 Oct 2018
  16. 16.
    Etherdelta. https://etherdelta.com/. Accessed 28 Oct 2018
  17. 17.
    Tsai, W.-T., et al.: A system view of financial blockchains. In: 2016 IEEE Symposium on Service-Oriented System Engineering (SOSE). IEEE (2016)Google Scholar
  18. 18.
    Tsai, W.-T., Yu, L.: Lessons learned from developing permissioned blockchains. In: 2018 IEEE International Conference on Software Quality, Reliability and Security Companion (QRS-C). IEEE (2018)Google Scholar
  19. 19.
    Yu, L., et al.: Smart-contract execution with concurrent block building. In: 2017 IEEE Symposium on Service-Oriented System Engineering (SOSE). IEEE (2017)Google Scholar

Copyright information

© Springer Nature Switzerland AG 2018

Authors and Affiliations

  • Rong Wang
    • 1
  • Wei-Tek Tsai
    • 1
    • 2
    • 3
    • 4
    • 5
  • Juan He
    • 1
  • Can Liu
    • 1
  • Enyan Deng
    • 3
  1. 1.Digital Society and Blockchain LaboratoryBeihang UniversityBeijingChina
  2. 2.Arizona State UniversityTempeUSA
  3. 3.Beijing Tiande TechnologiesBeijingChina
  4. 4.Andrew International Sandbox InstituteQingdaoChina
  5. 5.IOB LaboratoryNational Big Data Comprehensive Experimental AreaGuizhouChina

Personalised recommendations