Multi sig escrow service using nubits

[cryptog]

Users can only bypass downloading complete blockchains if they choose lightweight wallets.

What prevents me from creating a deposit address (nubits, or whatever accepted), sending there nubits or whatever accepted and then doing no trade = saving money for a while? In that case, the blockchain is downloaded by the signers, in my understanding.
Of course there is the problem of disappearance of signers after a while but there must be a solution using time lock, i feel.

[masterOfDisaster]

What prevents me from creating a deposit address (nubits, or whatever accepted), sending there nubits

Nothing. But where are you going to withdraw them?
That’s what I meant by pointing to lightweight wallets: if you don’t want to download a blockchain of a coin you want to withdraw from a multisig BCE address, you need another way to get hold of an address and its associated private key.
Withdrawing NBT to NuDroid would be such an option - unless you want to withdraw something different from NBT speculating on a rising value

[cryptog]

But where are you going to withdraw them?

Well in my case, i envision using b&c to store my bitcoins and then withdraw them to the address specified by the online store from which i would want to do shopping.
Isn’ t that possible?
In terms of performance, that would probably not be as efficient as using a light wallet but it could be nice for someone that does not trust a server, i guess.

[masterOfDisaster]

withdraw them to the address specified by the online store from which i would want to do shopping.Isn’ t that possible?

It is. Now I understand what you mean. This way you only need a BCE wallet to handle all currencies that are supported by BCE.
Great idea!

[starsoccer]

@Cybnate oh you just mean an api. Yes we do. Its not public quite yet but if you shoot me a pm or email I will give you access to it

@masterOfDisaster hopefully @Cybnate will do work on it tho a few people already have api access and are working on quite big things

[Sentinelrv]

As for the size of the blockchain, i think that if nu is successful in becoming the first currency of the Internet, the blockchain is likely to get enormous.So most of users (except shareholders) will not download it, we can speculate.Is it a problem?

This is why Nu should plan ahead to use Sunny’s solution for Peercoin, where the main chain is used mainly as a settlement network and secure decentralized storage, while the majority of microtransactions happen off-chain, preventing bloating on-chain.

Mably has been preparing for this with his development of ppcd, which could hook up with Open Transactions if it is ever released. If not, perhaps it could link with Lightning or other off-chain networks once they are released. I believe Nu should be taking steps to prepare for this.

[cryptog]

while the majority of microtransactions happen off-chain, preventing bloating on-chain.

I am not sure what “off-chain” is. I feel a solution involving a full node that stores wallets in multi-sig mode on B&C is tangible though.