Can a P2P digital currency exchange system be built?

[anaikh]

P2P digital currency exchange system

Component: Client+Plugins

Client is used for connencting to other clients and calling. Client will connenct to a network like ed2k for information sharing and build a fair price.

Plugin is digital currency specific, meaning different digital currencies will need different plugin to support. The plugin is used for transfering and inquiry currencies.

How does it work?
A: A_BTC->Temp_BTC->B_BTC
B: B_LTC->Temp_LTC->A_LTC

Let's suppose A wants to change 1BTC to 100LTC and B wants to change 100LTC to 1BTC.

A initiates the transaction.
1a. A inputs B's IP address in client and connects to B. A and B clients will send its own MD5 or whatever info to each other to verify that it is not modified.
1b. A and B can search for the bid and ask in the client network.
2. A inputs his BTC address (A_BTC) and his LTC address(A_LTC) and BTC amount and LTC amount, B inputs his LTC address (B_LTC) and his BTC address (B_BTC) and BTC amount and LTC amount. The clients exchange data and lock the transaction.
3. A inputs codes(A_code) in the client and B inputs codes(B_code) in the client.
4. A clients generates temporary BTC address for A to transfer BTC to. B clients generates temporary LTC address for B to transfer LTC to. The private keys of the address are encrypted by the opponent's codes.
5. A transfers BTC to Temp_BTC and B transfers LTC to Temp_LTC.
6. The clients call the plugin to check the amount in the addresses.
7. If the amounts are exactly the same as inputed in step2, the A will send A_codes again to B client and B client will make the transfer from Temp_LTC to A_LTC. B will send B_codes again to A Client and A client will make the transfer from Temp_BTC to B_BTC.
8. After the transaction, A and B client will broadcast the transaction to the client network. Each client received the information will add it to the previous data and form the fair price.

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[other_side]

5. A transfers BTC to Temp_BTC and B transfers LTC to Temp_LTC.

If the transfer will stuck in temp addresses?

7. If the amounts are exactly the same as inputed in step2, the A will send A_codes again to B client and B client will make the transfer from Temp_LTC to A_LTC. B will send B_codes again to A Client and A client will make the transfer from Temp_BTC to B_BTC.

If the amount is not the same?

[anaikh]

5. A transfers BTC to Temp_BTC and B transfers LTC to Temp_LTC.

If the transfer will stuck in temp addresses?

7. If the amounts are exactly the same as inputed in step2, the A will send A_codes again to B client and B client will make the transfer from Temp_LTC to A_LTC. B will send B_codes again to A Client and A client will make the transfer from Temp_BTC to B_BTC.

If the amount is not the same?

if the transfer is stuck in temp addresses, it means that one party has closed the client. The other party's client will broadcast the info the network and everyone will know the address owner is not trustable.
if the amount is not the same, then after the expire time (maybe 1H), the fund will be returned to the original addresses.

[other_side]

if the transfer is stuck in temp addresses, it means that one party has closed the client. The other party's client will broadcast the info the network and everyone will know the address owner is not trustable.
if the amount is not the same, then after the expire time (maybe 1H), the fund will be returned to the original addresses.

Who is providing reverting mechanism?

[anaikh]

if the transfer is stuck in temp addresses, it means that one party has closed the client. The other party's client will broadcast the info the network and everyone will know the address owner is not trustable.
if the amount is not the same, then after the expire time (maybe 1H), the fund will be returned to the original addresses.

Who is providing reverting mechanism?

the clients

[other_side]

the clients

How?