Building a Privacy-Preserving Orderbook
This guide walks through building a privacy-preserving orderbook where order prices and quantities remain encrypted until matched.Concept
In a traditional orderbook, everyone can see all order details. With FHE:- Order prices and quantities are encrypted
- Matching happens on encrypted data
- Only matched parties learn the fill details
State Design
Order Submission
Order Matching
The core FHE logic:Client Integration
Privacy Analysis
| Data | Visibility |
|---|---|
| Order exists | Public |
| Order owner | Public |
| Order side | Public |
| Order price | Encrypted |
| Order quantity | Encrypted |
| Match occurred | Public |
| Fill price | Encrypted (visible to matched parties) |
| Fill quantity | Encrypted (visible to matched parties) |
Testing
Next Steps
Examples
Complete orderbook example
Security
Security best practices