Check this out…
If this actually turns into a reality, I’m sure Peercoin would have a top spot on Nu’s decentralized exchange. Also, if anyone is interested in obtaining shares for B&C, you’ll need to read the thread. Shares in the exchange will be distributed to Nu shareholders, so you’ll need to own NuShares. This of course only happens if shareholders approve the project by passing Jordan’s motion.
AFAIK there are no plans to support Peercoin trading on B&C.
I’m sure it will be added in. It might not be there at the very beginning though. Somebody will propose a motion to add it in. I would find it hard to believe if this didn’t pass.
Sigmike, JordanLee, and team - well done. This is very impressive, my hat is off to you!
Wish you guys the best of luck in your funding round, and hope to see this thing shipped!
Looks like they will be the first Peershares implementation to replace Peercoin dividends with Bitcoin.
I think the reason may be that they need to cater to Bitcoin people if they want them to use the exchange. The dividend coin can always be changed in the future if shareholders agree on it.
I think the reason may be that they need to cater to Bitcoin people if they want them to use the exchange. The dividend coin can always be changed in the future if shareholders agree on it.
While possible, I anticipate that adding additional dividend currencies to the implementation will be the direction that the code goes instead of removing/replacement.
From a pure technical perspective: Are Peershares in any way tied to Peercoin in a greater extent than Peershares and any other cryptocurrency?
From a pure technical perspective: Are Peershares in any way tied to Peercoin in a greater extent than Peershares and any other coin?
Simple answer: No.
Longer answer: Peershares implementations are based on Peercoin’s proof of stake code, so there’s a natural compatibility between the two. The selection of a dividend currency is a parameter and does not programmatically require that dividends be paid out in PPC. The Blackshares implementation is an example of this type of modification.
Thanks Ben!
How could this “natural compatibility” be useful? Is something like “merged minting” possible, in the way that the DAC blockchain is (additionally) secured by the Peercoin blockchain?
[quote=“Gin, post:10, topic:3479”]Thanks Ben!
How could this “natural compatibility” be useful? Is something like “merged minting” possible, in the way that the DAC blockchain is (additionally) secured by the Peercoin blockchain?[/quote]
No “merged minting” is not possible.
What Ben might have wanted to state is that Peershares are excellent demonstration of Peercoin technology, and shows how useful the PoS is in ownership tracking (which Peershares actually are).
Got it, thanks!
ppcman, Jordan responded to what you said in chat yesterday…
[quote=“JordanLee”][quote=“Sentinelrv”]Jordan, ppcman posted this on the Peercointalk chat. Care to comment on any of it?
[i]"The only problem I have, is that it will feel like NXT’s asset exchange with a 1 minute delay between trades. If you’ve ever bought/sold on NXT’s Asset Exchange, it just feels wrong to wait so long between transactions. People need to start learning that a common chain with API is the way to go. Let NXT participate. Let Bitshares participate. Let NuShares participate. That’s the only way a real decentralized exchange can work. Is if you invite every one to the party.
…even let centralized exchanges participate too. Like a Fidonet system from the BBS days. That’s going way back, but there’s wiki on it for younger people. To explain, fidonet was a network of messaging spread across the world from proprietary BBS software. It didn’t matter what platform you ran, or what software you had. As long as it was compatible with Fidonet, you got the feed. That’s what the decentalized exchange of the future will be. Some thing that invites every one to participate and doesn’t hold any particular coin or share system special.
We need more collaberation between competing crypto solutions in order for any of this to work. You can’t leave any one behind when it comes to decentralized exchanges. That doesn’t mean share drops either. It means make it cross-platform compatible. Only then will get adoption and the traffic needed to make it work. In my opinion, watching the crypto scene evolve is like watching grass grow, or a pot of water warm enough to boil. really annoying. I know where we’re headed, it is just frustrating waiting for every one to realize it. just my 0.02 cents (or my 0.1 PPC)"
[/i][/quote]
Peer to peer consensus mechanisms simply can’t instantly create consensus with the level of certainly needed to safely and irreversibly transfer value. The time needed can be collapsed with shorter block times in the future (as network latency drops) or using trusted nodes. The extremely secure way in which funds are handled will make it worth the short wait for experienced traders who understand just how high the risk of default is with centralized exchanges.
I expect BlockShare holders will choose to support NXT and Bitshares, so B&C Exchange will be open in a way NXT and Bitshares are not, because those platforms only permit you to trade assets that are native to their blockchain. So if you want to trade Bitcoin for Bitshares, you can’t do it using the Bitshares exchange. You would first need to acquire BitBTC, an asset on the Bitshare blockchain designed to track Bitcoin. With B&C Exchange, however, you will be able to trade Bitshares for Bitcoin directly without the use of proxy assets. B&C Exchange is truly cross-platform compatible.[/quote]
Pillow, Jordan replied to your comments as well…
[quote=“JordanLee”][quote=“Sentinelrv”]Hey Jordan, here is another response from the Peercointalk chat, this time from Pillow. It seems he was wondering about leverage being added.
I've glanced over Jordan's paper. To me it looks similar (from a user) to shapeshift, with the added benefit of getting the fill at the price you set. So like Shapeshift with a "fill" feature, but decentralized and likely cheaper. I would never use the exchange myself to even try and trade during market crashes, because of the latency. Also, if I understand it correctly, it doesn't let me leverage up the trade. so basically _not_ a "trading exchange" but instead an "asset exchange". I think this kind of exchange could serve a niche role and also the decentralized plug-n-play like way of adding new symbols to be traded could make it _super adapative_ to whatever new symbols comes along. If latency and/or leverage could be added, that would be amazing. I'm probably going to support this decentralized Jordan exchange thing, even if I wont make any money on it, I think I want to support the effort. Neucoin... I've not even bothered taking that survey where you get some free coins. It has the feel of a pump n dump, especially in comparison to this exchange thing which is actually solving a real world problem.[/quote]
Shapeshift is a very useful centralized service. It is probably easier to use and is faster for first time users (but not repeat users). However, B&C will have four advantages over Shapeshift:
[ul][li]On liquid trading pairs the cost of trading will be much less (I have calculated it at around 2% on Shapeshift). While the cost will be dependent on ever changing spreads, I expect costs to typically be about 10% as much (0.2%). The percent cost will depend on your order size and the spread independent NuBit liquidity providers set. Overhead costs will be very low on B&C Exchange while liquidity will be very high due to liquidity operations from Nu.[/li]
[li]It can’t be shut down, for the same reasons Bitcoin can’t be.[/li]
[li]It supports limit orders where you set a price you will pay and it will fill when and if the market moves to that price [/li]
[li]After a beta period, it will support much larger orders (the limit is $1000 on Shapeshift)[/li][/ul]
While orders are not instantly eligible to be filled (they require a network configurable number of confirmations), order cancellations do take effect instantly.
Because B&C Exchange will be dependent on the blockchains of the assets it supports, only reliable blockchains should be supported. I suspect we will see more than 10 supported shortly after release.
There are no plans to support margin trading on B&C Exchange.[/quote]