20240029157. SECURE AND TRUSTWORTHY CROSSING NETWORK FOR TRANSFERRING ASSETS OUTSIDE OF EXCHANGE simplified abstract (Ava Labs, Inc.)

SECURE AND TRUSTWORTHY CROSSING NETWORK FOR TRANSFERRING ASSETS OUTSIDE OF EXCHANGE

Organization Name

Ava Labs, Inc.

Inventor(s)

Yuqun Chen of Westchester PA (US)

Xander Dunn of New York NY (US)

Michael Edmond Kaplan of Brooklyn NY (US)

Bernard Wong of Waterloo (CA)

Emin Gun Sirer of New York NY (US)

David Wells of New York NY (US)

Phil Wirtjes of New York NY (US)

Oliver Hopcroft of New York NY (US)

Stephen Bezek of New York NY (US)

SECURE AND TRUSTWORTHY CROSSING NETWORK FOR TRANSFERRING ASSETS OUTSIDE OF EXCHANGE - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240029157 titled 'SECURE AND TRUSTWORTHY CROSSING NETWORK FOR TRANSFERRING ASSETS OUTSIDE OF EXCHANGE

Simplified Explanation

The abstract describes a system for providing a secure crossing network for trading digital blockchain assets outside of an exchange. The system includes a crossing network program and a computer system with a secure enclave. The crossing network program operates within the secure enclave to receive crossing network orders from client devices, match orders in an order book, obtain pricing information from an exchange, and determine a reference price for the matched orders.

• The system provides a secure crossing network for trading digital blockchain assets outside of an exchange.
• The crossing network program operates within a secure enclave to ensure secure execution of programs.
• Client devices can send crossing network orders to trade assets within the crossing network.
• The system matches at least a portion of the crossing network orders in an order book.
• Pricing information for transactions in the exchange is obtained using a pricing oracle.
• A reference price for the matched orders within the crossing network is determined based on the pricing information from the exchange.

Potential applications of this technology:

• Facilitating secure trading of digital blockchain assets outside of traditional exchanges.
• Enabling individuals and organizations to trade digital assets directly with each other in a secure manner.
• Providing a trusted execution environment for processing programs related to trading digital assets.

Problems solved by this technology:

• Ensuring the security and integrity of trading digital assets outside of an exchange.
• Protecting sensitive information and preventing observation and manipulation by unauthorized parties.
• Facilitating efficient matching of orders and determining fair reference prices for trades.

Benefits of this technology:

• Enhanced security and privacy for trading digital assets outside of an exchange.
• Increased trust and confidence in the trading process.
• Potential for lower fees and greater control over trading activities.

Original Abstract Submitted

in one implementation, a system to provide a secure crossing network for trading digital blockchain assets outside of an exchange can include a crossing network program that is configured to provide a crossing network for the digital blockchain assets and a computer system with a secure enclave that is configured to provide the trusted execution environment within which processing of programs is secure from observation and manipulation by other operations outside of the secure enclave. the execution of the crossing network program in the secure enclave receiving, from client devices, crossing network orders to trade assets within the crossing network; matching at least a portion of the crossing network orders in an order book; obtaining, using a pricing oracle, pricing information for transactions in the exchange; and determining a reference price for the matched orders within the crossing network based on the pricing information from the exchange.