1. bookVolume 2021 (2021): Issue 4 (October 2021)
Journal Details
License
Format
Journal
First Published
16 Apr 2015
Publication timeframe
4 times per year
Languages
English
access type Open Access

SwapCT: Swap Confidential Transactions for Privacy-Preserving Multi-Token Exchanges

Published Online: 23 Jul 2021
Page range: 270 - 290
Received: 28 Feb 2021
Accepted: 16 Jun 2021
Journal Details
License
Format
Journal
First Published
16 Apr 2015
Publication timeframe
4 times per year
Languages
English
Abstract

Decentralized token exchanges allow for secure trading of tokens without a trusted third party. However, decentralization is mostly achieved at the expense of transaction privacy. For a fair exchange, transactions must remain private to hide the participants and volumes while maintaining the possibility for noninteractive execution of trades. In this paper we present a swap confidential transaction system (SwapCT) which is related to ring confidential transactions (e.g. used in Monero) but supports multiple token types to trade among and enables secure, partial transactions for noninteractive swaps. We prove that SwapCT is secure in a strict, formal model and present its efficient performance in a prototype implementation with logarithmic signature sizes for large anonymity sets. For our construction we design an aggregatable signature scheme which might be of independent interest. Our SwapCT system thereby enables a secure and private exchange for tokens without a trusted third party.

Keywords

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