The institutional crypto off-exchange liquidity venue has launched its trustless venue for trading blocks of digital assets. Claiming to be the only true trustless matching system of digital assets with no central entity, Cyberian was founded by leading cloud based order and execution platform TORA and secure multiparty computation solutions provider Partisia.
Cyberian’s system is a matching tool that is without any one single
point of trust which uses Secure Multiparty Computing (SMC) to break
order data into fragments and distribute them to Cyberian nodes.
Mathematically, even if a node is breached, it is impossible to
compromise the order data, the firm claims. This enables investors to
buy and sell digital assets with zero information leakage.
Gerrit van Wingerden, Chief Executive Officer of Cyberian, commented: “I’m extremely excited to launch Cyberian, the team and I have been working on this groundbreaking technology for the last 12 months and can’t wait to see it revolutionize the crypto industry. Cyberian is set to create a new institutional standard, a much safer and more efficient standard of large investment into digital assets. Gone are the days of price leakage and uncertainty of privacy. Cyberian will be the world’s most advanced private network for matching and settling assets – that is completely trustless.”
Cyberian is a trustless dark pool that enables investors to buy and sell digital assets with zero information leakage at superior prices to what could be achieved on exchanges or with OTC desks. Cyberian leverages Secure Multiparty Computing (SMC), a field of cryptography first developed in the 1980’s. Using SMC, Cyberian breaks order data into fragments and distributes them to Cyberian nodes. Collectively, Cyberian nodes operate a dark pool using an SMC protocol called MACE to perform joint matching of the order without having to reveal their own data to each other, ensuring that it stays private. In addition to providing unparalleled throughput, it offers a strong security model that can detect malicious behaviour if a Cyberian node is compromised or doesn’t follow the protocol.
TORA, co-founder of Cyberian, has been very active in the modernization of solutions for the trading industry. Besides of the crypto ecosystem, the firm has delved into artificial intelligence, having launched an AI-driven pre-trade TCA solution in late 2017. This was released into the market just ahead of MiFID II coming into effect in January 2018. The solution aimed to help firms meet the best execution requirements while using AI techniques that enabled accurate estimates of price slippage for trades before they entered the market.
