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Author Topic: [Prop.-Idea] How about a real (p2p)Market software based on it's own blockchain?  (Read 1338 times)
paraipan
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November 01, 2011, 06:25:09 PM
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I have to say this was a group idea put together in the Spanish forums...

How about having a new client-software called "Market" (or p2pMarket) that could enable us making real p2p trading ?
It could employ the same coin system we're used to, just like Namecoin for example, enabling people publish their services and products and protect the system from spammers.
The coins would be mined just like in the original bitcoin protocol, packs of 50 coins in every 10 minute block, but preferably using a CPU mining algo because it wouldn't require huge amounts of hashing power to maintain the system and it's main use would be from desktop client software run by peers that are actively trading with it.
It would have to have a private and public messaging service based on PGP keys, enabling us have authenticated and secure communications, with a small coin cost per message too.

The voting system would require some special attention though because any member can get positive votes and transaction would end without issues but negative ones would require some 3rd peer involved, arbitrage or judging, to prevent false negative votes ruining impeccable reputations without cost.
The solution to that is to have a random peer as "judge" in case a negative vote is issued. Having an option in the software client that makes you available as arbiter ("judge") in those cases would be preferred.

The whole process is really straight forward and it can be like this: "unhappy" buyer issues a negative vote with it's comments to the whole network and hopes it gets included in the next block, just like listings, messages and others. An unknown person mining for blocks that has the "judge" option enabled in it's client would receive that "negative-vote-transaction" and will modify it, or sign it, in such a manner that enables him as judging peer over the issue. He must broadcast a winning block first containing that "special" transaction.

The "judge" of a dispute is the first "judge-miner" that successfully mines a block with the "special" transaction in it. Evidence and messages can be changed over the system letting both parties make a case and try convince the "judge" being legal or right with their claims. The "judge" would have to make it's mind on the issue and broadcast to the whole network his decision to be included in the next block.

To incentive any person take a "judge" role the fee "prize" for a ruling could be set a little more higher than normal transactions and message fees gathered by miners. The "judges" could have a separate voting system on them, just like youtube vids, enabling us know something about their experience too.

The ideal (p2p)Market software should have the ability to:
- publish user postings that sell product or services with a max char limit (ex 500 chars) but without censoring content (that should be done in a thumbs up-down "youtube style" way)
- index all blockchain contents and should be easy to search or filter by category, seller, country, reputation, etc.
- use PGP messaging system (atm is being implemented in the bitcoin client based on the key-pairs generated internally)
- maintain an on-line reputation based on voting with comments (ebay style)
- mediate disputes (a must if we want the system to maintain itself)

Hope i get some good feedback on this. I don't code but it is seems a plausible idea to a few forum members, me included.

I pledge 5 bitcoins for this atm, hope I can manage to buy some more in the future and add to the pledge  Cheesy



(original idea thread, i only came up with the "judge" proposal)

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November 02, 2011, 01:48:10 AM
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