Print Page - Intersango.com Stable Platform Exchange EUR USD PLN GBP

Intersango.com is a completely custom trading platform built from the ground up with security, scalability and extensibility in mind.

The exchange is designed to handle arbitrary currency pairs. All registered currency pairs use bitcoins as their base currency.

Currently you can trade in Euros (EUR), US Dollars (USD), Polish Zloty (PLN) and GB Pounds (GBP).

Security

First and foremost all database interaction is done using prepared statements.

Input validation is a two step procedure.

User supplied values are initially verified for correctness so that any correctable mistake can be displayed back to the user.

Finally the database query itself binds the user supplied value to the prepared statement and explicitly sets the type for each bound value.

We store user passwords using a salted iterative SHA512 approach which includes a site wide secret.

This algorithm's primary advantage is that password storage can be incrementally made stronger to keep pace with the constantly declining cost of a brute force attack without requiring any user interaction at all.

Code:

public static function hash($password,$salt,$iterations,$secret)
{
    $hash = $password;
    for($i=0;$i<$iterations;$i++)
    {
        if(!$hash = mhash(MHASH_SHA512,$hash,$salt.$secret))
        {
            throw new Exception("mhash failed");
        }
    }
    
    return $hash;
}

Ease of Use
Intersango.com (http://Intersango.com) has been completely redesigned to streamline the user interface.

Application Programming Interface
The underlying order matching daemon is a near real time order matching system that is strictly First In First Out.

When an order is placed it is placed in a queue for processing.

The market daemon picks up the queued order and processes it through the orderbook saving any resulting trades.

To cancel an order, a request to cancel the order is placed in the same queue as orders, this guarantees that orders and cancellation requests are filled in the order in which they were placed in the queue.

The market daemon picks up the queued request to cancel. If the order has not already been fulfilled the remainder of the order is removed from the orderbook and cancelled. If the order has already been completely filled then the market daemon simply continues to the next item in the queue.

A complete description of the API is available on the bitcoin consultancy wiki.
https://bitcoinconsultancy.com/wiki/index.php/Intersango/API (https://bitcoinconsultancy.com/wiki/index.php/Intersango/API)

Finally
I'd be happy to answer any questions.
They will be integrated back into this original post.

Q: Will britcoin be migrated?
A: A migration schedule as well as instructions will be posted on britcoin at least 5 days before the actual migration occurs.

Unfortunately there is no sane way to migrate the orderbook from britcoin to the new platform, so when the migration occurs all trades on britcoin will be cancelled; again there will be at least a 5 day warning before this happens.

I'm all ears to suggestions for day of the week and specific times of day to migrate accounts.

I can also be contacted on Skype as IntersangoLLC or phantomcircuit as well as on freenode irc as phantomcircuit.

Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: phantomcircuit on September 13, 2011, 03:04:47 AM