Thanks for the replies guys
That is good and bad in a way. I will have my money stuck on your exchange forever if the exchange decides not to sign my withdrawal request? Exchanges have a reputation for holding users withdrawals for a number of reasons. This certainly isn't going to work in users favor in times of a dispute.
I think this will help so much in disputes. Currently when this happens the user has no way to prove to the public that the dispute is actually real and the exchange has done something wrong like hold funds. Its just your word vs the exchanges. Usually what ends up happening is users complain on forums and hope for the best. With our platform when a user feels the need to complain online he can prove that we are holding his funds, and prove were refusing to counter sign his request.
So were basically giving out tools for users to hold us accountable if we do anything wrong.
It seems to be better than any exchange out there, on paper i guess there will be a way to demonstrate the funds are locked (peraphs is in the whitepaper, i haven't look yet). If everything is working, is going to be very hard for an attacker to obtain both privte keys.
Is it true they can deny you access to your funds but on the other hand they cannot either access them, consider when you are sending now funds to an exchange you need to trust the exchange is secure and they will not run away with it as well, so basically trust 100% the exchange.
yup the white paper isn't very long and explains how the system works. I believe an updated version (or another color paper lol) is going to come out soon
https://v.fastcdn.co/u/f7406dff/35049881-0-Personal-Blockchains.pdf