n3xB - Decentralized Bitcoin/fiat exchange protocol on Nostr

[Nobu.maeda]

https://n3xb.io/img/Share1200x627.jpg

Last year I posted about the n3xB project - a proposal for an open protocol to facilitate Bitcoin exchanging across a globally shared order book, hosted using Nostr.
A year later today, I got the idea a lot more fleshed out - including a Rust library implementing the protocol, along with a demo iOS/macOS application and demo videos showcasing how this can work.
Hoping to get more interest and feedback on the idea. The hope is to make this an open standard for the decentralized exchanging of Bitcoin, similar to how Nostr itself is an open standard for decentralized social media applications.

Check the project out at https://n3xb.io/

[Nobu.maeda]

https://n3xb.io/img/FatcrabShare1200x627.jpg

You can jump straight to the demo/demo video at https://n3xb.io/fatcrab.html

[Solosanz]

I don't understand why we need to trade BTC for Fatcrab (FC)? the video didn't show the process when someone make deposit and withdraw their money, that's why I ask how do people convert the Fatcrab to fiat.

Let's say that I'm a Japanese and use JPY, is it possible for me to use JPY even no one use JPY? because it's really hard to find someone who use the same currency. I was thinking like a decentralized exchange that the user from any country can trade without need to use the same fiat currency.

AFAIK there's no popular decentralized Bitcoin exchange built on Nostr yet, so good luck to be the first one.

[Nobu.maeda]

Hey! Good question.

The demo is just a demo of how the protocol can be implemented. Its not a complete real-world solution. Fatcrab is a placeholder for Fiat, and Testnet Bitcoin is placeholder for real Bitcoin. In an actual implementation, it will be various fiat for Bitcoin directly. Nothing in the middle.

For now n3xB is just a protocol proposal, like how Nostr was in the early days. I'm looking for the Damus, and Alby and Amethyst of n3xB before an actual usable solution will be available.

[Vod]

What does the term naive mean?

[Nobu.maeda]

https://n3xb.io/img/Share1200x627.jpg

What does the term naive mean?

Just a very simple and straightforward way of using Nostr to host an interoperable shared order book. Naive because there isn't a lot of confidence due to very little acknowledgement this is the right approach so far?