Re: [ANN][CrowdSale Live]🌟🌟🌟🌟 NVO Decentralized Exchange

Quote from: NEMergizer on June 19, 2017, 05:45:44 AM

Quote from: Allo on June 19, 2017, 03:42:22 AM

Re-posting @nemgun's response from https://safenetforum.org/t/nvo-decentralized-exchange-crowdsale/13608/630

In our typical scenario, user A has BTC and wants to buy ETH, and user B has an ETH and wants to sell them for BTC.

1. At any given time User A shall submit an order expressing its intention to purchase 100 ETH @ 0.1 BTC / ETH prices
The order will be the procedure of creating address 2of2
* The validator part in the wallet named safe browser will create a 2of2 address with the amount, price, ETH reception address, it will call the smart contract encrypted in double sha 256.
* The private key of the address will be stored in the safenet
* The decryption key for the private key that is stored in the safenetwork will be stored on a blocked encrypted blockchain this blockchain is the inverse of a standard blockchain it encrypts the information.
* The mini blockchain will place the order in the order book
* The mini block chain has the role of syncronizing the wallets and it allows communication between them.

2. At another time, User B will issue an order to sell 50 ETH Awards @ 0.1 BTC / ETH

The validator part in the wallet named safe browser will create a 2of2 address with the amount, price, ETH reception address, it will call the smart contract encrypted in double sha 256.
3.Calculation Exchange Procedure
* The mini block chain will detect the deal by logical price
* She will call the two smart contracts that will be compared
* At the end of this verification, the active wallet will engage the safebrowser
* The safebrowser vas creates the ultimate smart contract that will be named the smarcontract swap
* The smartcontract swap will compare the amounts to deduct the excess with the exchange addresses.
* The excess will remain on the smart contract which will be returned on the safenetwork waiting for another deal the ride will be 0.04994 btc all from hangs from sending fee.
* The smartcontract swap will be copied into 4 online wallets in case of disconnection, the blockchain will specify the wallets online in a way aleatoir.
* It will take 4 copies of the smart contract for the deal to be realized, once synchronised the smartcontract swap realises the swap en then is deleted.
* Arrive at this stage the smart contract will be deleted.

This is where my logic model stops because for the following I am in test phase for the 0conf.

Thanks for the link. This still doesn't answer my questions.

It is mainly these two points that I find kinda unclear from a security perspective:
* The private key of the address will be stored in the safenet
* The decryption key for the private key that is stored in the safenetwork will be stored on a blocked encrypted blockchain this blockchain is the inverse of a standard blockchain it encrypts the information.

The private keys will be stored encrypted in blockchains/safenet to be decrypted and used at some points. The question is how these keys will be used safely in a decentralized manner? The only way I can think of that would make such process secure is to have couple of offline/centralized processors. Having all the logic running on the cloud of safenet/blockchains might not be free of security flaws.

Thanks for reposting Allo.

NEMergizer, I don't remember that you asked, but no problem.

To begin with, I do not want you to suppose without knowing the thing, because you could lose yourself.
There will be no centralized processor because you already have it on your computer, and the program that will use it is called safebrowser (before it was safelauncher), it is it that connects you to safenetwork and that encrypts your data To secure them.
The only flaw that I had that I resolved is that the person who had to send the private key to the safenetwork could crack it, or even keep it on his computer, this is why it will be encrypted then hashed in double sha256, and the one that looks like a blockchain will have access to the decryption key.
Now what you need to keep in mind is how the safenet works, how it will use the computation and make its logical calculation.
In safenet, you have your wallet which is the safebrowser, it uploads your information on the safenetwork by encrypting them in order to secure them, then they are duplicated at the farmers, so I will use some of the code of safebrowser and adapt it for The encryption process, so that users do not have access to the private key of the validator.