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Title: [Project] Elqnt + Personal Introduction Post by: sprinkle on December 16, 2013, 10:56:17 PM Hi,
My name is Stephen Sprinkle -- I'm working on a decentralized fiat <-> BTC exchange called Elqnt. I've been a long-time forum member under the elqntdotorg name, but am shifting to using my personal account for discussion. A bit about Elqnt: Bitcoin needs an anonymous + peer-to-peer way to go in and out of Bitcoin -- we're building that way. This exchange is a fully decentralized, anonymous, and peer-to-peer exchange that has two main components: Exchange Nodes -- do the heavy lifting Peers -- Android based apps used to initiate exchanges We'll be launching a kickstarter to fund full-time development for myself + another Android developer soon. I'm focused on the exchange node development, he's focused on the peer application development. Feel free to check out the whitepaper (https://git.thebody.io/elqnt/whitepaper/blob/master/whitepaper.md) (still in process). Anyone have questions/feedback? Title: Re: [Project] Elqnt + Personal Introduction Post by: Kasandra on December 17, 2013, 12:03:43 AM How do you plan to transfer FIAT in and out of your exchange?
Title: Re: [Project] Elqnt + Personal Introduction Post by: sprinkle on December 17, 2013, 01:25:35 AM How do you plan to transfer FIAT in and out of your exchange? It's done by the peers themselves in the network. The peers hold the liquidity of the exchange. Use case: One peer posts a sell for BTC, another peer agrees to buy in fiat. The fiat is transferred through the mesh network of peers, and the BTC is held in multi-peer escrow until the fiat has moved through all parties and has reached the destination, at which point the BTC is distributed. Stephen |