EDIT: This post was done by a hacker that took control over my account. I had not changed my password on bitcointalk and I had an easy one. I have no regained control over the account. Ignore this post.I'm happy to announce that p2pexchange will have a beta release in the coming days. p2pexchange is a
3 man project to create a decentralized message-passing network used for tracking assets with an integrated Bitcoin trading engine. p2pexd, the C++ daemon is designed for expert users and those looking to create
friendly front ends for the decentralized exchange.
- Decentralized network. Nodes submit very light messages which are stored by all nodes
- No central authority to take down
- Uses DHT for peer finding
- Trade ANY asset by an issuer - securities, bonds, loans, even fiat in an decentralized manner
- Anyone can create their own asset and reserve a ticker name
- Trades require depositing to the respective issuer's escrow address. The escrow address is automatically generated by p2pexd when you create a new asset. Issuers should keep their daemon running 24x7.
- Shares tied to Bitcoin addresses, provable by message signing
- Open Source - to be licensed under LGPL
Q AND A1. How does it work exactly?
Shares are tied to Bitcoin addresses. When you create a security, you reserve the ticker (via a special transaction in the Bitcoin blockchain, earliest transaction gets that ticker), create an escrow address and an issuing address which originally contains all your shares. Transferring of shares is done via a special transaction script and is embedded in the Bitcoin blockchain - we use hashpower to prevent double spending (for shares). It is NOT colored coins - coins do not represent assets, we simply use Bitcoin transactions to carry it.
2. How does the orderbook work?
When you want to trade on the order book, you need to send coins to an escrow address defined when the asset was created. This is so there is no fake orders on the orderbook. All trade pairs must involve BTC (arbitrary asset pairs may be included in a later version).
3. How can I trade fiat?
An issuer (for example, an exchange) can create an asset such as "MyExchangeUSD", "MyExchangeEUR", with their own redemption policies. You will need to trust the issuer to honor redemption.
4. Can I pay dividends?
Yes. p2pexd also supports scheduled dividends (you must keep p2pexd running as an issuer through) to make loans easier. All dividends are paid straight to the asset owner's addresses, if they will receive more than 10,000 satoshi. (If not, the software simply keeps track and will send the next time they have more than 10,000 satoshi).
5. Are there any fees?
You must pay Bitcoin transaction fees (0.0001 to 0.0005 BTC) per action, such as orderbook entry, orderbook cancellation, new asset, pay dividends, etc. There are also some fees required by p2pexchange. These fees are paid to the development team, acting as a bounty but also as a security fee to prevent network spam. Fees can be centrally adjusted DOWN (never up) with a signed message from the address 1p2pa3oVhWAeT9q66hxWZGA6iv2cTUZu2
Current fees (they may be adjusted down centrally):
New Asset / Reserve Ticker: 10 BTC
Post Asset News (up to 140 ASCII characters): 0.01 BTC
Orderbook insert fee: 0.0005 BTC
Dividend payment fee: 0.0005 BTC
6. Do I need to run bitcoind?
Yes, if you would like to use p2pexd you will need to run a full node with RPC access. You will also need to patch it so it recognizes and provides p2pexd with certain scriptSigs.
7. Will there be a friendly user interface?
For p2pexd, no. We hope that developers build friendly user interfaces of p2pexd, such as web user interfaces, providing support, etc.''
GITHUBPending beta release
BITCOIND PATCHESNote: This is not a hard fork, this does not affect the network, just provides additional RPC commands that p2pex uses
Pending beta release
Show Posts
