Corelab Seminar
2014-2015
Dionysis Zindros (NTUA)
A pseudonymous trust system for a decentralized anonymous marketplace
Abstract.
We present the theoretical and practical considerations when
developing the trust system for OpenBazaar, a decentralized anonymous
marketplace. OpenBazaar is a production-grade open source software
that enables censorship-resistant anonymous freedom of trade without
single points of failure. The trust system for OpenBazaar involves two
pillars: A web-of-trust for projected trust, and a global trust system
called reputation pledges based on proof-of-burn. Trades happen using
the bitcoin cryptocurrency and we use Ricardian contracts and 2-of-2
and 2-of-3 multisig on the blockchain to secure transactions. Finally,
namecoin is used for decentralized secure friendly-name reservation.
In this work, we present all these topics and how they combine
together to form a trust system for secure decentralized financial
trades.