|
Title: [XMT] Coin with built-in escrow - Paper discusssion Post by: metap2pool on July 07, 2014, 10:10:27 PM Metacoin https://bitcointalk.org/index.php?topic=677710.0 (https://bitcointalk.org/index.php?topic=677710.0) devs have worked on many potential features for the coin future including a built-in escrow.
It's a feature that will allow two unrelated people to exchange without a third party in a trustless and secure way. What do you think of that feature? Is it useful and needed ? do you think it may foster the coin adoption or will people still continue to use traditional escrow services ? PS: I haven't read the paper so I don't know the technical of how it'll work, just want to talk about usefulness and potential extent of such a feature. Title: Re: XMT:: What do you think of a coin with built-in escrow ? Post by: metap2pool on July 08, 2014, 03:09:20 PM Think nothing ;D
Title: Re: XMT:: What do you think of a coin with built-in escrow ? Post by: metap2pool on July 15, 2014, 03:18:16 PM Paper describing how the protocol works. Questions welcomed. I'll try my best to explain or ask the devs.
http://gitlab.metacoinproject.org/metacoin/papers/raw/master/openclear.pdf Title: Re: [XMT] Coin with built-in escrow - Paper discusssion Post by: metap2pool on July 17, 2014, 12:09:25 AM Metacoin is not like any other altcoin. Development to include a decentralized clearing system in its core started. This feature will make this coin truly unique with something that even bitcoin didn't achieved. For example with metacoin you will be able to exchange other altcoins without the need of an escrow or reputation thread. You'll be able to buy almost anything without worrying to get scam by a malicious seller...
The contracts in it allow metacoin transaction to be enforceable if anything goes wrong; these contracts can be redemeed at any time or get listed in an OTC market. It's a major stepstone since bitcoin itself. Don't miss out and read the paper here (http://gitlab.metacoinproject.org/metacoin/papers/tree/master) Title: Re: [XMT] Coin with built-in escrow - Paper discusssion Post by: fishy91 on July 17, 2014, 12:33:34 AM Does escrow involve downloading two or three coins separate blockchains?
Title: Re: [XMT] Coin with built-in escrow - Paper discusssion Post by: metap2pool on July 17, 2014, 01:46:20 AM Does escrow involve downloading two or three coins separate blockchains? Sorry I don't get your question :/ From what Alex explained me and what I read in its paper, escrow works by holding coins in the blockchain until both parties close the transaction. |