[quote=“hrobeers, post:70, topic:3896”]I did not mean a new Peercoin txn type.
I meant a new PeerAssets txn type.
In this case, all involved parties provide their input to the transaction. [b](standard ppc txn)[/b]
The exchange get's encoded in one of the outputs. [b](e.g. OP_RETURN)[/b]
When the transaction is created, all parties sign their inputs and the transaction is broadcast. [b](standard input signing)[/b]
[/quote]
That is interesting idea. Simple and effective. Good, I like it.
This should be integrated into client though, to ease the interaction for the user. Any idea on how to transmit the raw tx data between parties?
One party sets up the exchange by filling in the amounts to be exchanged from which addresses.
He signs it.
The other party/parties receive request to sign.
He/they sign it too.
The transaction is broadcast automatically once the last input is signed.
please note that this is relative and will greatly depend on my available spare time.
[listl]
[list][li]Implement tools for the job.[/li][/list]
Implement simple python library for interaction with Peercoin blockchain. This will serve as a backend for the application. This code will be left to be used by all the future projects that utilize Peercoin blockchain and need custom transactions or OP_RETURN read/write.
This will be most labor intensive piece of the puzzle.
Estimated time to complete: up to 5 weeks.
[list][li]Implement command line utility to issue and transact with assets.[/li][/list]
This will serve as a platform for first tests and will allow final definition of the standard through testing. It will be deployed on Peerbox as part of peerbox command. Such utility will also be first public release but will be contained to Peercoin testnet for start.
Estimated time to complete: 2 weeks
[list][li]Expand functionality of backend to support multisig assets.[/li][/list]
Estimated time to complete: 2 weeks
[list][li]Coordinate integration into PeerKeeper by hrobeers.[/li][/list]
With protocol strictly defined and tested so far it is time to release it to wider public, and is there better platform than nice and elegant web based wallet? At this point I guess that PeerKeeper will continue with separate but compatible implementation.
Estimated time to complete: 2 weeks
[list][li]Expand functionality to enable dividend payout and shareholder voting.[/li][/list]
Estimated time to complete: 3-4 weeks
[list][li]Final polishing and launch on Peercoin mainnet.[/li][/list]
Estimated time to complete: 2-3 weeks
[list][li]Issue “ħopium” (ħ) currency as a PeerAssets based secondary currency running on Peercoin chain.[/li][/list]
This will be satirical move in essence, commenting on the state of community and Peercoin in general. Also, it will allow community to see what PeerAssets can do beside assets. I imagine this currency to be used as tipping currency on forum, reddit and twitter. I will need help with forum, reddit and twitter tip bots at this point.
Estimated time to complete: up to 4 weeks
[/list]
Future:
Port to Bitcoin blockchain, implement tools to move the asset deck from chain to chain.
This might cover some other chains like Litecoin, depending on the interest.
Figure out how-to and implement blockchain identity based on this technology.
This means that it should be possible to send Peercoins to me by writing [member=30983]peerchemist[/member] into address bar in PeerKeeper.
Experiment with technology to deliver DNS solution to Peercoin chain (copy what Namecoin does).
*Something even cooler than all the above but I will keep it secret for now.[/list][/ul]
Code will be published and updated each time I pass those milestones. This will consume a lot my time and as this is open-source project and can not be monetized I ask the community to fund my work. You can do that via Peer4commit: https://peer4commit.com/projects/178
The same fund will also be used to fund some external work if required.[/quote]
You should think about posting this in a separate thread. It is likely lost to many on page four of this thread. I only found it looking through your posts [member=30983]peerchemist[/member]
Awesome that this trading mechanism can be implemented without Peercoin protocol changes. Great idea, hrobeers!
I can help with testing PeerAssets, for participating in development unfortunately my Python skills are too basic. I’ll try to look at the code though, perhaps I understand something. (If i’m not active in the forum when there’s something to test you can write me a PM.)
Very clean and elegant. Apologies if these questions have already been answered elsewhere.
Will the Peercoin network will not be able to prevent double spend of Peerassets? Rather the PeerAssets aware client must do the verification?
So this is analagous to today’s internet which routers try to forward packets at line speed and the intelligence as at the end nodes?
While there might be multiple reasons for proposing this design of a Peerassets aware client, I am wondering if it could be clarified as to the reasons for the design. Is this done to ensure that Peerassets can work on any Bitcoin derived blockchain? Is the design to avoid any forks with Peercoin?
What would it look like and what would it take to integrate such a protocol into Peercoin? Is such a design possible?
PeerAssets aware clients detect double spends themselves. Double spends will end up in the blockchain, but clients will dismiss them.
[quote=“zhangxiu, post:75, topic:3896”]While there might be multiple reasons for proposing this design of a Peerassets aware client, I am wondering if it could be clarified as to the reasons for the design. Is this done to ensure that Peerassets can work on any Bitcoin derived blockchain? Is the design to avoid any forks with Peercoin?
What would it look like and what would it take to integrate such a protocol into Peercoin? Is such a design possible?[/quote]
It should work on any bitcoin fork. So no changes are needed to peercoin or bitcoin protocol.
It might even work on NXT without protocol changes.
The first article was a little hard for me to follow, probably because I lack a lot of the technical knowledge needed to understand the concepts he’s talking about.
Is it possible for you to expand on what you personally took away from each of these articles and how what he’s talking about applies to Peercoin and PeerAssets?
I won’t go too much in detail, but he gives a very good in depth explanation that most projects are overusing the blockchain principle.
Today, many projects run their own dedicated chain, while they often do not need their own chain or even no chain at all.
The main reason for running your chain is for funding reasons.
However, with PeerAssets this is even possible without running your own chain.
A lot of those projects run their own chain, so they can create specific transactions for their use case. PeerAssets allows to create new transaction types on top of another chain. Like a parasite, but for Peercoin, PeerAssets is a good parasite offering a win-win collaboration.
Like we’ll show in the future, you can even do PoS with PeerAssets without running a sidechain.
The crypto community is mostly overthinking it’s implementations these days, and I think this is mainly because of a lack of understanding of Bitcoin and it’s script system and the push to get something fast by investors.
Are you saying here that it will be possible to mint with your PeerAssets or are you saying something else? In the whitepaper it says this, which seems to imply no minting…
PeerAssets does not participate in organizing nor maintaining of the public ledger, but takes advantage of its stability and trustworthiness.
Ardor and PeerAssets are not really comparable. While both do deliver blockchain-as-service functionality they achieve so using different approach. Ardor is a blockchain network, a NXT 2.0. It is a niche product at best, a solution looking for a problem.
PeerAssets, on the other hand delivers matching functionality but as second-layer service on top of battle-tested Peercoin blockchain (5 years of uninterrupted uptime) and retaining compatibility with existing infrastructure of Bitcoin, Litecoin, Peercoin and other popular coins.
Beside, PeerAssets work on any satoshi-style blockchain network like Bitcoin, Litecoin, Peercoin and others while Ardor is a thing for itself limiting adoption.
Thanks for sharing.
I did a quick Google search on “what is a whitepaper”. What I found was both concise, yet open-ended at the same time. “A Whitepaper combines a detailed presentation of the project and a business plan in one document.” Every blockchain project should have a whitepaper. Some whitepapers more detailed than others.
An effective whitepaper should consist of the following five things: (1) The Problem, (2) The Solution or Project, (3) Commercialization, (4) The Team, and (5) Token Issuance Plan.
White papers are more general than that though.
“A white paper is an authoritative report or guide that informs readers concisely about a complex issue and presents the issuing body’s philosophy on the matter. It is meant to help readers understand an issue, solve a problem, or make a decision.” https://en.m.wikipedia.org/wiki/White_paper
The Peerassets whitepaper is an excellent example of a whitepaper that does not include a direct business model, but is instead more about expressing a complex idea. In fact, if you look at all the classic white papers in the crypto space (bitcoin, litecoin, peercoin) none of them mention “the team” or “commercialization”. The definition you found seems to be exclusively about ICOs.