[RFC] Marketcoin - A web of distributed markets with a common unit
AbstractDecentralised currencies have become a recently realised reality; e.g. Bitcoin, Peercoin, Mastercoin, and Nxt. However, despite their variety in both design and philosophy, there does not yet exist a decentralised market in which these can be traded effectively. Just as Bitcoin should enable new economic structures because it significantly improves over the previous best system, a market with similar properties (say virtually zero fee) may provide new insights into price finding and market dynamics. We present such a market in this paper, along with an experimental method of evaluation with novel properties that may help mitigate sticky prices and thus enable smoother price finding and dampen the intensity of corrections. As a benchmark, a successful decentralised cryptocoin market is required to be able to replace an exchange such as cryptsy (in the case of crypto-crypto pairs).
Full RFC / White paper work-in-progress: https://github.com/marketcoin/marketcoin/wiki/RFCPlease feel free to quote parts of the document here if you wish to discuss them specifically.
