From: Peter Todd <pete@petertodd•org>
To: Mark Friedenbach <mark@friedenbach•org>
Cc: Bitcoin Development <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] The relationship between Proof-of-Publication and Anti-Replay Oracles
Date: Sun, 21 Dec 2014 02:01:54 -0500 [thread overview]
Message-ID: <20141221070154.GD8255@savin.petertodd.org> (raw)
In-Reply-To: <CAOG=w-tZke--6OsqNjJhE9SOdCwdZYZM8iz1VBTFziegt9UZWw@mail.gmail.com>
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On Sun, Dec 21, 2014 at 02:18:18PM +0800, Mark Friedenbach wrote:
> Care to expand?
>
> Freimarkets does not require proof of publication of bids or asks, which
> are distributed out of band from the block chain until a match is made. It
> does not guarantee ordering of market transactions. Indeed, front-running
> is embraced as the mechanism for generating miner fees to pay for the
> service.
Right, so Freimarkets is delibrately insecure.
Best of luck on that.
> Sybil attacks? I'm not sure what you could be referring to. In Freimarkets
> a bid or ask is valid when received; a double-spend is required to cancel
> it. You could only flood the network with actual executable orders, and the
> counter-party to the order doesn't care if they all came from the same
> person or not.
>
> Can you explain what it is you are objecting to?
Read my paper¹ - proof-of-publication is what allows you to detect
front-running robustly within certain parameters. Protecting against
that is widely considered to be a very important goal by people actually
in finance, to the point where I've had discussions with people where
anti-front-running protection might be the *only* thing they use a
decentralized system for.
1) Decentralized digital asset exchange with honest pricing and market depth,
Peter Todd, Feb 9th 2014,
http://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/msg03892.html
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next prev parent reply other threads:[~2014-12-21 7:02 UTC|newest]
Thread overview: 28+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-12-12 9:05 [Bitcoin-development] Setting the record straight on Proof-of-Publication Peter Todd
2014-12-12 12:25 ` Gareth Williams
2014-12-12 17:04 ` Alex Mizrahi
[not found] ` <CAOG=w-v3qjG3zd_WhfFU-OGnsHZEuYvY82eL4GqcdgY6np5bvA@mail.gmail.com>
2014-12-12 17:50 ` Alex Mizrahi
2014-12-13 13:32 ` Gareth Williams
2014-12-15 4:52 ` Peter Todd
2014-12-17 11:55 ` Gareth Williams
2014-12-21 6:12 ` Peter Todd
2014-12-15 4:17 ` Peter Todd
2014-12-12 13:41 ` odinn
2014-12-12 14:17 ` Justus Ranvier
2014-12-15 4:59 ` Peter Todd
2014-12-17 1:16 ` odinn
2014-12-20 14:48 ` [Bitcoin-development] The relationship between Proof-of-Publication and Anti-Replay Oracles Peter Todd
[not found] ` <CAOG=w-vrHPY1aCNndmoW9QyCh9XnWyv8uZn2PyjZ6rNg2MoSSw@mail.gmail.com>
2014-12-21 5:52 ` Peter Todd
[not found] ` <CAOG=w-tZke--6OsqNjJhE9SOdCwdZYZM8iz1VBTFziegt9UZWw@mail.gmail.com>
2014-12-21 7:01 ` Peter Todd [this message]
[not found] ` <CAOG=w-s1_VXJAKxBpMOK=B50qnHjxSe4J=vwwSfFPRz0_Cb9rA@mail.gmail.com>
2014-12-21 15:32 ` Peter Todd
2014-12-21 11:25 ` Jorge Timón
2014-12-21 16:07 ` Peter Todd
2014-12-21 19:39 ` Jorge Timón
2014-12-21 10:01 ` Adam Back
2014-12-21 15:29 ` Peter Todd
2014-12-21 13:49 ` paul snow
2014-12-21 15:22 ` Peter Todd
2014-12-21 15:41 ` paul snow
2014-12-22 0:11 ` Peter Todd
2015-01-06 11:03 ` joliver
2014-12-22 20:05 ` Adam Back
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