I’m convinced that blockchain based tech is perfect for store of value. I’m also convinced that voting-pool based tech is perfect for exchanges. (I won’t mind elaborating on this if someone asks me to).
What if we develop a voting-pool based decentralized exchange, where people could trade peercoins for peershares (and possibly ppcbtc)?
What if each now voting node, was launched (or at least could be launched) as a Peershares based company? Transactions would have to pay fee to voting nodes in network, who could then pay for expenses and dividends.
Then, new voting nodes would be possible to launch and a thriving network of competing voting nodes could emerge.
If only multi-sig enabled assets were tradeable (no fiat, no gold, etc), the network could be fully trustless, very difficult to shutdown and there would be basically no counter-party risk.
I’m not planning on doing this, but I would really like to see something like it happen.
I deliberately tried to keep this post as short as possible. Please ask questions or feel free to add to the discussion or perhaps shoot down the idea entirely, if you want to.
Multigateway seems to be touted as decentralized, but upon closer study, I think they must be holding your coins in a centralized way. I don’t see what’s stopping the operator(s) from running a fractional reserve with your coin deposits, or suddenly stealing them. The multisig that they use appears to require only their own centralized signatures in order to spend the coins.
I’m by no means an expert, but from the little I’ve heard of Open Transaction (OT), I think they have a very enticing model. In OT you only have a ticket so there is no blockchain or anything like that.
A blockchain is better then voting-pools for store of value (my opinion) but since the voting pools only have to swap a little bit of data, transactions can be executed swiftly and the footprint is can be reduced a lot.
OT seems to have most of it figured out already, so perhaps that technology could be used (if it doesn’t work as required out of the box (for instance I believe I read something about that they will keep the first voting pools in-house), it’s open source and can be forked).
If OT isn’t suitable, a new protocol could be designed (perhaps inspired by OT) and a reference client created in say, nodejs or something. New voting pools, could do their own implementation (support features, enhanced security and what not) and that would be one reason why you would want to invest in their Peershares.