Bitcoin Forum

New Protocol just launched and announced here on https://bitcointalk.org/index.php?topic=395761.0

Hot features for Alt users and traders looking for a decentralized P2P solution.

• User-Created Assets: Issue user‐defined currencies/assets and pay dividends on them.
• Distributed Exchange: Trade XCP, BTC or any asset with any other.
• Feeds: Broadcast information, which may be used as the subject of a bet.
• Betting, Financial Derivatives: Make bets, or construct contracts for difference, on the numerical value of a feed.

This is great news !  :D When you mean Trade XCP, BTC or any asset with any other. does this mean users can trade GLB (Globe) . When will it be launched ?

Yes, you can trade GLB with any other which is the objective of this project. It's live now and fully open-sourced! Download and check it out here: https://bitcointalk.org/index.php?topic=395761.0 (https://bitcointalk.org/index.php?topic=395761.0)

Sounds great. Will notify GLB community. Hopefully not too many bugs  ;)

Bugs? Bugs? What bugs?  ::)

Definitely download and let us know. Try it on Testnet first. We'd be glad to have folks trade GLB.

Hahaha sorry just assumed people may run into a couple because its so new  ;)

Created a post for  this on the main the Globe thread. ;)

Thanks very much for being so understanding! Yes, there will be bugs, which you should always report to us, and you should make pull requests whenever you feel it is necessary!

Thanks sphere. Happy New Year as well! It's off to a great start.

How are withdrawals handled?

Is this sytem dependent on trust between individual users?

Is it possible for a user to issue currency for trade that they do not hold?

No. It's an untrusted system that does not depend on trust between users.


No and you should see the examples of how it works here: https://github.com/PhantomPhreak/counterpartyd/ (https://github.com/PhantomPhreak/counterpartyd/)

No, it is a completely trustless system. The protocol itself debits every asset (except for BTC) from a user's address upon making a transaction involving that asset.

As for BTC: Both users involved in a transaction have to enter an 'expiration' (measured in blocks) for how long his order is valid. The user who is 'giving' BTC must do so before the shorter of the two expiration times has expired, otherwise the transaction is cancelled.


No.

Now this looks interesting!

And completely open sourced and ready for inspection and testing.

By the way, does this have some sort of API ?

We're going to write a JSON-RPC API for counterpartyd itself, to mimic Bitcoind. Right now the package serves as a pretty good library with the reasonably well-abstracted functions in util.py.

can test too with a big pleasure!

what do I need to do in order to start testing?

this sounds really fuckin sweet. i'll be tracking this.

Head to the main thread https://bitcointalk.org/index.php?topic=395761.0 (https://bitcointalk.org/index.php?topic=395761.0) where you can read the introduction and download all the open source code. A few improvements already delivered so far.