Are there not mechanisms to handle replay attacks? There is also the minor matter of fraud and regulatory concerns. You might get away with it a few times but not often enough to avoid a potential death penalty of being disconnected.
Steve -----Original Message----- From: Alexandre Snarskii [mailto:s...@snar.spb.ru] Sent: Wednesday, August 08, 2012 9:46 AM To: Naslund, Steve Cc: Alexandre Snarskii Subject: Re: raging bulls On Wed, Aug 08, 2012 at 09:08:18AM -0500, Naslund, Steve wrote: > Also, we are only talking about a delay long enough to satisfy the > longest circuit so you could not push your timestamp very far back and > would have to get the fake one done pretty quickly in order for it to > be worthwhile. The real question is could you fake a cryptographic > timestamp fast enough to actually gain time on the system. Possibly > but it would be a very tall order. Looks like replay attack works here: "attacker" can easily record encrypted timestamps and reuse them some milliseconds later, claiming "I had no knowledge on how market changed during this time, it's my provider had to re-route my traffic!!" > > Steve > > -----Original Message----- > From: Chu, Yi [NTK] [mailto:yi....@sprint.com] > Sent: Wednesday, August 08, 2012 9:01 AM > To: Naslund, Steve; nanog@nanog.org > Subject: RE: raging bulls > > What prevents someone to fake an earlier timestamp? Money can bend > light, sure can a few msec. > > yi > > -----Original Message----- > From: Naslund, Steve [mailto:snasl...@medline.com] > Sent: Wednesday, August 08, 2012 9:53 AM > To: nanog@nanog.org > Subject: RE: raging bulls > > It seems to me that all the markets have been doing this the wrong way. > Would it now be more fair to use some kind of signed timestamp and > process all transactions in the order that they originated? Perhaps > each trade could have a signed GPS tag with the absolute time on it. > It would keep everyone's trades in order no matter how latent their > connection to the market was. All you would have to do is introduce a > couple of seconds delay to account for the longest circuit and then > take them in order. They could certainly use less expensive > connections and ensure that international traders get a fair shake. > > Steven Naslund > > -- In theory, there is no difference between theory and practice. But, in practice, there is.
