Making Bitcoin Exchanges Transparent

  • Christian DeckerEmail author
  • James Guthrie
  • Jochen Seidel
  • Roger Wattenhofer
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 9327)


Bitcoin exchanges are a vital component of the Bitcoin ecosystem. They are a gateway from the classical economy to the cryptocurrency economy, facilitating the exchange between fiat currency and bitcoins. However, exchanges are also single points of failure, operating outside the Bitcoin blockchain, requiring users to entrust them with their funds in order to operate. In this work we present a solution, and a proof-of-concept implementation, that allows exchanges to prove their solvency, without publishing any information of strategic importance.


Replay Attack Trust Platform Module Trust Computing Fractional Reserve Audit Result 
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Copyright information

© Springer International Publishing Switzerland 2015

Authors and Affiliations

  • Christian Decker
    • 1
    Email author
  • James Guthrie
    • 1
  • Jochen Seidel
    • 1
  • Roger Wattenhofer
    • 1
  1. 1.Distributed Computing GroupETH ZurichZürichSwitzerland

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