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Author Topic: Decentralized Bitcoin Inter Blockchain Exchange  (Read 10226 times)

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Offline bitcoinforum.comTopic starter

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Decentralized Bitcoin Inter Blockchain Exchange
« on: April 17, 2012, 10:11:10 AM »
Hey friends, I have started this thread to try to start a discussion about a decentralized bitcoin inter blockchain exchanges.

Some time ago I have made this thread on bitcointalk.org but things was a little messed 'cause it started by a question and then I got the exchange idea.

Here we go... The goal is to try to describe how to create a P2P inter blockchain exchange based on existing infrastructure.

The basic
Lets take only bitcoin and namecoin as an example (before you ask, yes all others cryptocoins could be used - paypal and fiat no!).
  • 1X is a bitcoin public key that the network is also aware of its private key.
  • 1N is a namecoin public key that the network is also aware of its private key.
  • signmessage is an existing command in the bitcoin protocol. We will need it before broadcast a new exchange to the network.
  • verifymessage is also an existing command in the bitcoin protocol. This is how the exchange will be validated.

Now, check the drafts bellow...



#1 - Alice transaction


#2 - Scam attempt


#3 - Bob attempt


#4 - No trade (refund)


Hey let's talk and develop the idea!
« Last Edit: April 17, 2012, 10:34:53 AM by bitcoinforum.com »
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Re: Decentralized Bitcoin Inter Blockchain Exchange
« Reply #1 on: April 21, 2012, 07:58:43 PM »
I messed with this as well.. I implemented a couple things into the chain and launched them just as a point of concept for myself... I also did a little work on aiming towards an exchange but discontinued it.

This would be a great idea though..

Offline bitcoinforum.comTopic starter

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Re: Decentralized Bitcoin Inter Blockchain Exchange
« Reply #2 on: April 22, 2012, 12:31:33 AM »
I would like to see some experienced developers talking something about the concept.

Hey Lz say something! :D
"Your keys, your Bitcoin. Not your keys, not your Bitcoin." (Andreas Antonopoulos)
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