Portal's ZK-SWAPS white paper, available in ebook format. (Part 1 of 3)

ABSTRACT: In this white paper, we unveil a multilayered system purpose-built for spot trading cryptocurrencies which allows users to trade with the speed and liquidity of centralized exchanges, but without transferring assets to a trusted third party.

We call this paradigm “ZK-Swaps”.

Together, the innovations described add up to every crypto user having access to a liquid, trust-minimized trading interface built right into his/her wallet. Our approach does not depend on off-chain identity of any of the participants, so from this moment on, “crypto exchange” becomes a service that any anonymous entity can provide for a competitive fee within open, transparent markets.

Part 1 of this white paper describes how our cross-chain atomic swap protocol works. 

Part 2 describes how liquidity can be aggregated across a network of traders by homogenizing orders across trades, using order decomposition and recomposition. 

Part 3 describes the zero-knowledge system with proofs for order book execution.

ISBN: 9780463783740

ABOUT PORTAL: https://getportal.co

Portal is building the first cross-chain atomic swaps exchange architecture to enable fast trades anonymously and without a third party. Trading is conveniently built right inside Portal's non-custodial muti-asset wallet. And anyone can join the network and perform the distributed exchange functions and receive a fee.