The decentralized exchange development watcher thread

[creon]

I believe its Matthew (Android) ?

I’m sorry for giving the wrong credit. It was Matthew and his software is just awesome, I couldn’t find a single call to bitcoinj in the Coinffeine code which didn’t have a counterpart in nubitsj.

Will it help speaking directly with the coinffeine team?

Yes totally! Their license is comparably strict but its somehow understandable considering their business model (source):

[ After a long long introduction … ] 3.1 Subject to the terms of this License Agreement, Coinffeine Company grants
you a limited, worldwide, royalty-free, non-transferable and non-exclusive
license to use the Coinffeine Software solely to:

A. Develop plugins for the Coinffeine Software.

B. Develop applications for NonCommercial purposes to run using the
Coinffeine Software, Coinffeine Software APIs or Coinffeine Network information.

C. Use the Coinffeine Software for NonCommercial purposes.

So I don’t have a problem forking this and to provide it for free. The problem starts when we compensate LPC’s (with money) who use this software to provide liquidity. This would be a violation of the license I assume.

So I guess the best way would really be to get into contact with them and ask for an arrangement, either by providing them with an NBT plugin for their software, or to ask for a license (Nu would be the first DAO which bought a software license).

[desrever]

Bitsquare 0.2.1 tagged : https://github.com/bitsquare/bitsquare/releases/tag/v0.2.1

[cryptog]

What is bitsquare?

[willy]

bisq-network/exchange

What is Bitsquare?

Bitsquare is a cross-platform desktop application that allows users
to trade national currency (dollars, euros, etc) for bitcoin without
relying on centralized exchanges such as Coinbase, Bitstamp or (the
former) Mt. Gox.

By running Bitsquare on their local machines, users form a
peer-to-peer network. Offers to buy and sell bitcoin are broadcast to
that network, and through the process of offering and accepting these
trades via the Bitsquare UI, a market is established.

There are no central points of control or failure in the Bitsquare
network. There are no trusted third parties. When two parties agree to
trade national currency for bitcoin, the bitcoin to be bought or sold is
held in escrow using multisignature transaction capabilities native to
the bitcoin protocol.

Because the national currency portion of any trade must be
transferred via traditional means such as a wire transfer, Bitsquare
incorporates first-class support for human arbitration to resolve any
errors or disputes.

[crypto_coiner]

Bitsquare vs BCx : how do they compare?

[JordanLee]

Bitsquare aims to be a decentralized version of LocalBitcoins.com. They are focusing on peer to peer exchanges between traditional national currencies and Bitcoin. B&C Exchange only deals with blockchain based assets. There is no overlap in the target markets of B&C Exchange and Bitsquare.

[desrever]

Openbazaar Trade Protocol, according to their stack, it will allow currency exchange also:

OpenBazaar is Entering a New Phase with Funding - OpenBazaar

[willy]

I’ve been watching OpenBazaar since the first public beta and I can’t stop thinking, that NuBits would be perfect for this!

[zoro]

nubits would be perfect for a lot of things. they just don’t trust it yet!

[desrever]

Coinffeine out http://blog.coinffeine.com/2015/07/21/coinffeine-launches-worlds-first-decentralized-bitcoin-exchange-70-countries/
… and on the first page or r/Bitcoin

[cryptog]

Top post right now.

[desrever]

I believe that the reddit thread is a very nice place to watch at comments and use them as a proxy for eventual B&C criticism. By participating in the discussion we, as a community, can be more prepared for when the time comes.

[MaVo]

I am not tech-savvy enough to do it myself but I would really like to have an infographic or something like that which provides an overview of what BCExchange has what others don’t have and vice versa. Something that really explains even for newbies as good as possible why our project is worth a shot. Especially illustrations that point out why BCExchange is the superior decentralized solution compared to others that claim to be decentralized as well.
To be honest, I am simply relying on the fact that @JordanLee is behind this. But for newbies or other people that don’t know him that might perhaps not be enough.
It could also be a table with boxes and checks comparing existing projects. Do we already have something like that? If not, could we work something out?

Cheers
MaVo

[MaVo]

Anyone?

[tomjoad]

Anyone?

I think it’s a great idea. I can try and mock something up over the next week or two.

[MaVo]

thanks for your response. I really think that such an overview is crucial to the public perception of our project. I know that Jordan has put an incredible amount of work into that whitepaper, but something more compact/straight to the point is what most people are looking for. Also, such an overview will cause fruitful discussions and involve the smart minds of our community in a more effective way.
As long as we are honest and certain with what we present, it can only beneficial for us to have a very nice illustration of why we have/support the best decentralized solution for an exchange (and I hope we really are as I am one of those who cannot judge that)

Cheers

[masterOfDisaster]

Just to gather some information (mostly summing up this thread) to get the overview started - this post will deal with

1. MercuryEx

• Coinffeine
• InstantDex
• BlackHalo
• Bitsquare
• OpenBazaar

InstantDEX - a B&C Exchange competitor or a complement?

Oh for sure! I’d be happy to see some development at Mercury Exchange, but to the best of my knowledge it highly depends on OP_CHECKLOCKTIMEVERIFY to be implemented in the traded coins/assets - at least if people want to trade safely.And I’m happy to see projects like Coinffeine (which is open source and appears except for the order book quite decentralized).

re 1. MercuryEX uses the

Cross-Chain Atomic Swap protocol, allowing users to buy and sell different cryptocurrencies, without any third-parties holding their funds. Trades happen on the blockchain(s), not in some exchange’s database.

is in beta and stuck there until OP_CHECKLOCKTIMEVERIFY is widely used in the blockchains that shall be traded.

re 2. Coinffeine seems to rely on a centralized order book. I don’t have details about how orders get placed and filled. Coinffeine seems to be P2P trading and claims to be able to handle fiat money.

re 3. Information about InstantDEX:

InstantDEX - a B&C Exchange competitor or a complement?

I've been invested in NXT for some time. As well as SuperNet which is supposed to be the underlying platform of this InstantDEX. If I may offer what I know… SuperNet wants to do what B&C is promising to do. Bring all coins together. However they are staring with a set of "core coins" under their umbrella. I brought this up previously - the idea started with multigateway. This started with proxies. But it has morphed and changed - grown. InstantDex wants to use the coins themselves. Its go…

re 4. BlackHalo:

BlackHalo went live today. http://blackhalo.info/#section-call-to-action2

re 5. Bitsquare:

https://github.com/bitsquare/bitsquare What is Bitsquare? Bitsquare is a cross-platform desktop application that allows users to trade national currency (dollars, euros, etc) for bitcoin without relying on centralized exchanges such as Coinbase, Bitstamp or (the former) Mt. Gox. By running Bitsquare on their local machines, users form a peer-to-peer network. Offers to buy and sell bitcoin are broadcast to that network, and through the process of offering and accepting these trades vi…

re 6. OpenBazaar:

Openbazaar Trade Protocol, according to their stack, it will allow currency exchange also: [image] https://blog.openbazaar.org/openbazaar-is-entering-a-new-phase-with-funding/

[MaVo]

thanks for your response. I really think that such an overview is crucial to the public perception of our project. I know that Jordan has put an incredible amount of work into that whitepaper, but something more compact/straight to the point is what most people are looking for. Also, such an overview will cause fruitful discussions and involve the smart minds of our community in a more effective way.
As long as we are honest and certain with what we present, it can only beneficial for us to have a very nice illustration of why we have/support the best decentralized solution for an exchange (and I hope we really are as I am one of those who cannot judge that) smile

Cheers

bump

[desrever]

well, worth adding to the list is

http://openledger.info

[Sentinelrv]

Here is an article about InstantDEX.

Centralised exchanges vs Decentralised exchanges. • r/CryptoCurrency