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←All chapters04 / 08

Chapter 04 · 4 min read

Privacy

Exactly what a watcher can read about your order, what stays sealed, and who knows what.

  1. 4.1What anyone can read↓
  2. 4.2What stays sealed↓
  3. 4.3What the engine knows↓
  4. 4.4Why the crowd matters↓

4.1

What anyone can read

Pick who is looking. Sealed fields can't be read by them; open ones can.

Coin
The coin's address
Side
Sell
Size
2% of supply
Price
Sealed
Paid to
Sealed
Salt
Sealed

The escrow account is public. Only the hash of price, payout and salt is stored.

One example order, seen three ways.

Want the size quiet too? Seal from a fresh wallet. The size stays readable; who it belongs to is a new address.

4.2

What stays sealed

When you seal an order, the escrow stores a hash of three things: your price, the wallet that gets paid and a random salt. Only the hash is on chain. To fill your order, all three have to be revealed, and the program checks them against the hash before anything moves. Nobody can fill you at a price you didn't set, or pay a wallet you didn't choose.

4.3

What the engine knows

The matching engine knows your price and which wallets traded, because it has to in order to pair orders. The public doesn't. This is not zero-knowledge: it is a sealed book run by an engine, settled by a program that checks every fill.

4.4

Why the crowd matters

Privacy grows with the number of orders around yours. A coin with one order resting is easy to read; a coin with forty is not. That is why each coin's page and the home page show how many orders are resting right now.

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