THORChain implementation audit of Monero multisig completed

2021-12-24 11:22

An audit of THORChain’s (RUNE/USD) implementation of Monero (XMR/USD) multisig, which was carried out by Inference and sponsored by Cake Wallet, has been completed successfully. Cake Wallet asked Inference to audit Thorchain’s implementation of Monero multisig, and the results are good according to a popular Reddit thread.

Multisig is crucial part of THORChain code

A few weeks ago, Cake Wallet asked auditors to review THORChain’s Monero multisig implementation. This is a crucial part of THORChain’s code. It will be used to store native XMR that serves the purpose of providing liquidity as well as other functions of the THORChain network.

THORChain is a decentralized liquidity protocol, but its user experience is very similar to that of a centralized instant exchanger. Users can issue a command, such as exchange XMR for Ethereum (ETH/USD) to a specified address, then send the XMR. The rest of the transaction is carried out by the nodes. Users won’t need to use a wrapped asset to provide XMR liquidity, which is a big plus.

THORChain can provide DEX option for mobile

According to Cake Wallet, THORChain could provide a DEX option for Android and iOS without compromising on the simplicity of the user experience. They shared intentions to add the option for users to add and remove liquidity directly within Cake Wallet.

Among the changes made to Monero multisig are parallel signing. Cake Wallet contacted Inference to review these and other changes.

Audit completed by highly qualified team

The audit was supervised by none other than JP Aumasson, who has audited Monero code in the past. This includes Bulletproofs, Bulletproofs+, and CLSAG. The main review was done by Adrian Hamelink and Lucas Meier, his team members.

Very promising results

The team identified just two low impact potential security concerns and made five general observations. The changes needed to make the code more stable are relatively simple and straightforward.

Before THORChain can use Monero multisig, the latter needs to fix its multisig implementation. Still, the concrete code changes made by THORChain have now been reviewed. Cake Wallet will add Monero to THORChain as soon as possible. They are working with the Haven team to make this happen.

The post THORChain implementation audit of Monero multisig completed appeared first on Invezz.

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