The decentralized exchange development watcher thread

[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

[cryptog]

maybe it should be mentioned here: InstantDEX - a B&C Exchange competitor or a complement?

[mhps]

http://symbiont.io/

"DECENTRALIZED TRADING

PEER-TO-PEER SETTLEMENT

BUILT IN ESCROW AND CLEARING

AUTOMATED CORPORATE ACTIONS"

$1.25 million seed funding round for Symbiont, a startup using the blockchain for “smart securities”

[zoro]

ethereum-like?

[cryptog]

to which extent is it decentralized? looks like an attempt to monetize on counterparty.

[willy]

Good read on decentralized reputation:

Decentralized Reputation in OpenBazaar - OpenBazaar

[MaVo]

The Blocknet’s DX will be going into testing phase shortly. Haven’t read through it but just looked some sources for anyone here interested in reading what they are planning.

https://en.bitcoin.it/wiki/Atomic_cross-chain_trading

http://cryptonewsday.com/blocknet-releases-decentralized-exchange-alpha-forms-inter-blockchain-think-tank/

[masterOfDisaster]

How do they evade the problems caused by transaction malleability?

[crypto_coiner]

https://bitsquare.io/

Bitsquare is built for those who:

Want to exchange a national currency such as dollars, euros, or yen for bitcoin.
Want to exchange a wide range of alternative crypto currencies for bitcoin.
Do not want to trust any exchange for holding your funds.
Do not want to forfeit control or privacy to a central authority in order to trade with other individuals.
Regard financial transactions as a form of private speech that should be protected from surveillance by banks, governments, and other institutions.
Bitsquare is designed to be:

Decentralized – there is no single point of failure.
Safe – Bitsquare never holds your funds.
Instantly accessible – no need for approval from a central authority.
Private -no one except trading partners exchange personally identifying data.
Open – every aspect of the project is transparent.
Easy – we take usability seriously.

[willy]

Bitsquare has been featured in this thread numerous times.

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

[crypto_coiner]

sorry for the redundancy

[manfred]

Hi guys,
Manfed here, the founder of Bitsquare.
If you have any questions feel free to ask.
I think the basics about Bitsquare are well explained on the webpage. What is not so good communicated there is that we support beside BTC-Fiat also BTC-Altcoins. NuShares and NuBits have been added from day 1.
Bitsquare is completely decentralized (I know that term is abused a lot) and privacy protecting (custom P2P network use Tor hidden services).
Its already live on mainnet with a bunch of offers.
Check it out at:

bisq-network/exchange

I think specailly NuBits is a very interesting trade asset due its low spread. It can serve as cheap CoinJoin alternative (BTC-NuBits-BTC) or as USD IOU for Fiat.

I did not had time yet to dive deeper into B&C Exchange but its on my watch list. Looks promising what I have seen so far.
I hope that those really decentralized projects (BitMarkets, OpenBazaar, MercuryEX, B&C Exchange, Bitsquare) are working together in a spirit of cooperation instead of competition. There is much space beside the mass of VC funded centralized startups. Lets show them that Crypto currencies deserve a better inrastructure.

Just a comment to Coinffeine: It is dead (no download, no reactions on mailinglist, no info) and was never decentralized (used servers, Fiat is handled by OKPay which knows who is trading with whom as the micropayment channel is a unique fingerprint for a Coinffeine trade) - big PR bubblegum…