Need tech advice for a new crypto exchange website

[manobra]

Hi all,

Need your advices here!

We are tired to see exchange websites that try to work with cryptocurrencies and get hacked.

I'm working on the following idea, and want your oppinion.

It is an exchange site. Lets say: BTC/LTC/ETC... (No fiat / no real money, only between cryptos).

But instead of taking all data from the user (name, password, etc...), He just fills out a form:

- Email (just to receive the details)
- source crypto: LTC + his LTC address
- wants to Buy: BTC + BTC address where He wants to receive

The conversion rate is applied and if He agree, He press CONFIRM

His transaction will be posted in a public wall with timestamp and a ticket number.

After this, He will be emailed with the address he should make the deposit and The ammount of coins He agreed to be transfered.

And here is the issue:

A remote software will be reading this "public wall" looking for that transaction on the coin's blockchain.

As soon as it reaches the necessary number of confirmations, this software makes the transfer.

Hackers can attack server, but nothing can be done as the software that controls the wallets can be running on any place of The world ...

Sorry about my english and I'm writting from my phone.

I'm C/C++/C# programmer.

Thanks for your help!

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[1713548237]

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[grau]

There is no reason to have the keys or even the code underwriting transactions at the web server.
Your idea of operation is hopefully already standard.

[manobra]

There is no reason to have the keys or even the code underwriting transactions at the web server.
Your idea of operation is hopefully already standard.

You mean the exchange sites already doing this way?

How could hackers steal from Mt.Gox?

Thanks for replying!

[grau]

I can only speak for the exchange I built.

Web sever and the matching engines and border router to bitcoin network are distinct machines and transactions are signed with multiple keys from distinct locations.

I am sure those who are in business for longer are using similar ideas.

[manobra]

I can only speak for the exchange I built.

Web sever and the matching engines and border router to bitcoin network are distinct machines and transactions are signed with multiple keys from distinct locations.

I am sure those who are in business for longer are using similar ideas.

OMG! I´m late!! lol

I didn´t know they already doing this...

Thank you again!