Cryptology ePrint Archive: Report 2020/024

The Arwen Trading Protocols (Full Version)

Ethan Heilman and Sebastien Lipmann and Sharon Goldberg

Abstract: The Arwen Trading Protocols are layer-two blockchain protocols for traders to securely trade cryptocurrencies at a centralized exchange, without ceding custody of their coins to the exchange. Before trading begins, traders deposit their coins in an on-blockchain escrow where the agent of escrow is the blockchain itself. Each trade is backed by the coins locked in escrow. Each trade is fast, because it happens off-blockchain, and secure, because atomic swaps prevent even a hacked exchange from taking custody of a traderís coins. Arwen is designed to work even with the "lowest common denominator" of blockchainsónamely Bitcoin-derived coins without SegWit support. As a result, Arwen supports essentially all "Bitcoin-derived" coins e.g., BTC, LTC, BCH, ZEC, as well as Ethereum. Our protocols support Limit and RFQ order types, we implemented our RFQ protocol and are available for use at arwen.io.

Category / Keywords: cryptographic protocols / fair exchange, cryptographic protocols, cryptocurrencies

Original Publication (with major differences): Financial Cryptography and Data Security 2020

Date: received 7 Jan 2020

Contact author: ethan at arwen io

Available format(s): PDF | BibTeX Citation

Version: 20200109:145425 (All versions of this report)

Short URL: ia.cr/2020/024


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