Decentralized exchange markets leveraging blockchain have been proposed recently to provide open and equal access to traders, improve transparency and reduce systemic risk of centralized exchanges. However, they compromise on the privacy of traders with respect to their asset ownership, account balance, order details and their identity. In this paper, we present Rialto, a fully decentralized privacy-preserving exchange marketplace with support for matching trade orders, on-chain settlement and market price discovery. Rialto provides confidentiality of order rates and account balances and unlinkability between traders and their trade orders, while retaining the desirable properties of a traditional marketplace like front-running resilience and market fairness. We define formal security notions and present a security analysis of the marketplace. We perform a detailed evaluation of our solution, demonstrate that it scales well and is suitable for a large class of goods and financial instruments traded in modern exchange markets.

翻译：最近有人提议,利用供应链的分散交易市场向贸易商提供开放和平等的机会,提高透明度,减少集中交易的系统性风险,但是,这些市场在贸易商的资产所有权、账户平衡、订单细节和身份方面损害其隐私;在本文件中,我们介绍一个完全分散的隐私保护交流市场,支持对等贸易订单、链内结算和市场价格发现;Rialto提供定单率和账户平衡以及贸易商与其贸易订单之间不相连接的保密性,同时保留传统市场的理想特性,如前期复原力和市场公平性;我们界定正式安全概念,对市场进行安全分析;我们对解决方案进行详细评估,显示其规模适当,适合现代交易所交易的大批货物和金融工具。