Paper 2018/1210 Original: eprint.iacr.org/2018/1210 ↗
MProve: A Proof of Reserves Protocol for Monero Exchanges
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)
PDF- Category
- Applications
- Publication info
- Preprint.
- History
- 2019-04-24: last updated
- 2018-12-19: published
- Short URL
- https://ia.cr/2018/1210
- License
- https://creativecommons.org/licenses/by/4.0/
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}
}