Paper 2018/1210
MProve: A Proof of Reserves Protocol for Monero Exchanges
Arijit Dutta and Saravanan Vijayakumaran
Abstract
Theft from cryptocurrency exchanges due to cyberattacks or internal fraud is a major problem. Exchanges can partially alleviate customer concerns by providing periodic proofs of solvency. We describe MProve, a proof of reserves protocol for Monero exchanges which can be combined with a known proof of liabilities protocol to provide a proof of solvency. It is the first protocol for Monero which provides address privacy by allowing an exchange to hide its own addresses within a larger anonymity set. MProve also provides a simple proof of non-collusion between exchanges.
Metadata
- Available format(s)
- Category
- Applications
- Publication info
- Published elsewhere. IEEE Security & Privacy on the Blockchain 2019
- Keywords
- CryptocurrencyMoneroproof of assets
- Contact author(s)
- sarva @ ee iitb ac in
- History
- 2019-04-24: revised
- 2018-12-19: received
- See all versions
- Short URL
- https://ia.cr/2018/1210
- License
-
CC BY
BibTeX
@misc{cryptoeprint:2018/1210, author = {Arijit Dutta and Saravanan Vijayakumaran}, title = {{MProve}: A Proof of Reserves Protocol for Monero Exchanges}, howpublished = {Cryptology {ePrint} Archive, Paper 2018/1210}, year = {2018}, url = {https://eprint.iacr.org/2018/1210} }