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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

-- 
'peter'[:-1]@petertodd.org
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  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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