[ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure

[Palaxidon]

After this news https://www.cryptocoinsnews.com/europol-interpol-unite-combat-bitcoin-money-laundering/  I strongly think that Tech like Blocknet offers is the future for us bitcoin traders and users.

[ewibit]

BLOCK is traded on 4 exchanges:

.

.

https://bter.com/trade/block_btc

.

BLOCK-BTC is delisted

[MR1]

So I update the list of the exchanges where BLOCK is traded:

https://poloniex.com/exchange#btc_block

https://bittrex.com/Market/Index?MarketName=BTC-BLOCK

https://www.litebit.eu/en/buy/blocknet

www.crypto-trade.net


And of course Blocknet decentralized exchange !

[mamamae]

look promising , slack is this one ? :
http://blocknet.herokuapp.com/

[Crypto*Digger]

look promising , slack is this one ? :
http://blocknet.herokuapp.com/

yes, join in!

[Erik Goff]

And of course Blocknet decentralized exchange !

Maybe its me being noob , but where can i find the decentralized exchange ? ( i know its everywhere but i mean an access to it )
I looked in my wallet ( v. 1.1.1.3 ) but nothing there. What am i missing ?

[synechist]

And of course Blocknet decentralized exchange !

Maybe its me being noob , but where can i find the decentralized exchange ? ( i know its everywhere but i mean an access to it )
I looked in my wallet ( v. 1.1.1.3 ) but nothing there. What am i missing ?

We have a user guide for the decentralised exchange!

It was created by the community.
Special thanks to @aderks for leading the initiative.
It'll be progressively updated as we go.


Here's the link:
https://docs.google.com/document/d/1DWmeD86mvzM1gG-g3_i0_TApjAnmzbUefhEXGYKRqYc/edit?usp=sharing

[Erik Goff]

And of course Blocknet decentralized exchange !

Maybe its me being noob , but where can i find the decentralized exchange ? ( i know its everywhere but i mean an access to it )
I looked in my wallet ( v. 1.1.1.3 ) but nothing there. What am i missing ?

We have a user guide for the decentralised exchange!

It was created by the community.
Special thanks to @aderks for leading the initiative.
It'll be progressively updated as we go.


Here's the link:
https://docs.google.com/document/d/1DWmeD86mvzM1gG-g3_i0_TApjAnmzbUefhEXGYKRqYc/edit?usp=sharing

Wow very cool ! i will try it soon when i am more awake. Unfortunately the author didn't provide an 'overview' so its kinda overwhelming at first for non-techies.
But basically as i understand it, every bitcoin-type wallet has RPC,  which means that these wallets can be accessed by a program from the backside. in case of blocknet this program is xbridgep2p. This program then makes the connection to your wallets, and enables you to 'advertize' a trade offer on the blocknet. is this correct ?

[synechist]

And of course Blocknet decentralized exchange !

Maybe its me being noob , but where can i find the decentralized exchange ? ( i know its everywhere but i mean an access to it )
I looked in my wallet ( v. 1.1.1.3 ) but nothing there. What am i missing ?

We have a user guide for the decentralised exchange!

It was created by the community.
Special thanks to @aderks for leading the initiative.
It'll be progressively updated as we go.


Here's the link:
https://docs.google.com/document/d/1DWmeD86mvzM1gG-g3_i0_TApjAnmzbUefhEXGYKRqYc/edit?usp=sharing

Wow very cool ! i will try it soon when i am more awake. Unfortunately the author didn't provide an 'overview' so its kinda overwhelming at first for non-techies.
But basically as i understand it, every bitcoin-type wallet has RPC,  which means that these wallets can be accessed by a program from the backside. in case of blocknet this program is xbridgep2p. This program then makes the connection to your wallets, and enables you to 'advertize' a trade offer on the blocknet. is this correct ?

Yup, that's the gist of it.

xbridgep2p provides the following components:
- DHT network overlay
- end-to-end encrypted p2p messaging protocol
- coin exchange protocol

For decentralised exchange, it functions to
- broadcast orders
- compile an order book
- match orders
- instruct your wallets to follow the steps of the coin exchange protocol
- check that the counterparty plays by the rules of the coin exchange protocol

[yns1971]

I've bought some coins

[Erik Goff]

And of course Blocknet decentralized exchange !

Maybe its me being noob , but where can i find the decentralized exchange ? ( i know its everywhere but i mean an access to it )
I looked in my wallet ( v. 1.1.1.3 ) but nothing there. What am i missing ?

We have a user guide for the decentralised exchange!

It was created by the community.
Special thanks to @aderks for leading the initiative.
It'll be progressively updated as we go.


Here's the link:
https://docs.google.com/document/d/1DWmeD86mvzM1gG-g3_i0_TApjAnmzbUefhEXGYKRqYc/edit?usp=sharing

Wow very cool ! i will try it soon when i am more awake. Unfortunately the author didn't provide an 'overview' so its kinda overwhelming at first for non-techies.
But basically as i understand it, every bitcoin-type wallet has RPC,  which means that these wallets can be accessed by a program from the backside. in case of blocknet this program is xbridgep2p. This program then makes the connection to your wallets, and enables you to 'advertize' a trade offer on the blocknet. is this correct ?

Yup, that's the gist of it.

xbridgep2p provides the following components:
- DHT network overlay
- end-to-end encrypted p2p messaging protocol
- coin exchange protocol

For decentralised exchange, it functions to
- broadcast orders
- compile an order book
- match orders
- instruct your wallets to follow the steps of the coin exchange protocol
- check that the counterparty plays by the rules of the coin exchange protocol

Great work. Now as trader, i like to see charts of course. As a suggestion, you should make an API for the guys at coinigy, this is a 3rd party platform that accesses different exchanges to trade. Instant visuals

[synechist]

And of course Blocknet decentralized exchange !

Maybe its me being noob , but where can i find the decentralized exchange ? ( i know its everywhere but i mean an access to it )
I looked in my wallet ( v. 1.1.1.3 ) but nothing there. What am i missing ?

We have a user guide for the decentralised exchange!

It was created by the community.
Special thanks to @aderks for leading the initiative.
It'll be progressively updated as we go.


Here's the link:
https://docs.google.com/document/d/1DWmeD86mvzM1gG-g3_i0_TApjAnmzbUefhEXGYKRqYc/edit?usp=sharing

Wow very cool ! i will try it soon when i am more awake. Unfortunately the author didn't provide an 'overview' so its kinda overwhelming at first for non-techies.
But basically as i understand it, every bitcoin-type wallet has RPC,  which means that these wallets can be accessed by a program from the backside. in case of blocknet this program is xbridgep2p. This program then makes the connection to your wallets, and enables you to 'advertize' a trade offer on the blocknet. is this correct ?

Yup, that's the gist of it.

xbridgep2p provides the following components:
- DHT network overlay
- end-to-end encrypted p2p messaging protocol
- coin exchange protocol

For decentralised exchange, it functions to
- broadcast orders
- compile an order book
- match orders
- instruct your wallets to follow the steps of the coin exchange protocol
- check that the counterparty plays by the rules of the coin exchange protocol

Great work. Now as trader, i like to see charts of course. As a suggestion, you should make an API for the guys at coinigy, this is a 3rd party platform that accesses different exchanges to trade. Instant visuals

Yes, thanks, great suggestion.

How about just integrating TradingView? After all, this is a decentralised exchange, so it's not especially useful to get data from Coinigy about centralised exchanges.

[G_SOROS]

Blocknet still the best ever.

[synechist]

And of course Blocknet decentralized exchange !

Maybe its me being noob , but where can i find the decentralized exchange ? ( i know its everywhere but i mean an access to it )
I looked in my wallet ( v. 1.1.1.3 ) but nothing there. What am i missing ?

We have a user guide for the decentralised exchange!

It was created by the community.
Special thanks to @aderks for leading the initiative.
It'll be progressively updated as we go.


Here's the link:
https://docs.google.com/document/d/1DWmeD86mvzM1gG-g3_i0_TApjAnmzbUefhEXGYKRqYc/edit?usp=sharing

Wow very cool ! i will try it soon when i am more awake. Unfortunately the author didn't provide an 'overview' so its kinda overwhelming at first for non-techies.
But basically as i understand it, every bitcoin-type wallet has RPC,  which means that these wallets can be accessed by a program from the backside. in case of blocknet this program is xbridgep2p. This program then makes the connection to your wallets, and enables you to 'advertize' a trade offer on the blocknet. is this correct ?

Yup, that's the gist of it.

xbridgep2p provides the following components:
- DHT network overlay
- end-to-end encrypted p2p messaging protocol
- coin exchange protocol

For decentralised exchange, it functions to
- broadcast orders
- compile an order book
- match orders
- instruct your wallets to follow the steps of the coin exchange protocol
- check that the counterparty plays by the rules of the coin exchange protocol

Great work. Now as trader, i like to see charts of course. As a suggestion, you should make an API for the guys at coinigy, this is a 3rd party platform that accesses different exchanges to trade. Instant visuals

Yes, thanks, great suggestion.

How about just integrating TradingView? After all, this is a decentralised exchange, so it's not especially useful to get data from Coinigy about centralised exchanges.

I've been thinking a little further about Coinigy. We'd have to do the following:
- convince them to run xbridgep2p and a bunch of wallets
- convince them to pull the order book data out of xbridgep2p
- convince them to generate charts, etc. from the data
- hit Coinigy's API from each trader's local dapp, in order to plug into Coinigy to get the data
- keep trading an entirely local (decentralised) phenomenon, as it currently is
- get our dapp to load the Coinigy page, in an entirely integrated way, so that traders can use our DX and whichever centralised exchanges they want to, with no friction.

Basically I'd want to keep Coinigy on the edge of the network. Which is complicated, but doable.

Probably a massively expensive idea to attempt. :-)

[Erik Goff]

I've been thinking a little further about Coinigy. We'd have to do the following:
- convince them to run xbridgep2p and a bunch of wallets
- convince them to pull the order book data out of xbridgep2p
- convince them to generate charts, etc. from the data
- hit Coinigy's API from each trader's local dapp, in order to plug into Coinigy to get the data
- keep trading an entirely local (decentralised) phenomenon, as it currently is
- get our dapp to load the Coinigy page, in an entirely integrated way, so that traders can use our DX and whichever centralised exchanges they want to, with no friction.

Basically I'd want to keep Coinigy on the edge of the network. Which is complicated, but doable.

Probably a massively expensive idea to attempt. :-)

I think your thought process went the wrong way on a one-way lane
i am a user of coinigy, i like them ( they are not perfect)  So i can't tell from their code but as i gather it works like this:
coinigy pulls the order book from various exchanges and displays them in they own format (looking better and more usability than e.g. poloniex)
coinigy hooks to the api of any exchange to make trades and housekeeping (check if orders are still there etc)
so the only thing that needs convincing is your second point : - convince them to pull the order book data out of xbridgep2p
plus a second one : convince them to accept blocknets api  (i think that needs to be written ?)

In any case, i think that over time there will be tons of trading apps that can hook on to any exchange. Something to consider for the future

Edit: I do realize that using an app like this goes against the idea of decentralization. But in this case, coinigy is a service and does not hold any money. in fact you have to pay montly fee to use it.  but for that you get the graphs etc. So its a tradeoff, where the real question is how far decentralization should go.

[trafficolaa]

I am still holding my blocks from long time because this will be bigger in upcoming days, all features are about to come out and very soon it will start rising, the potential of this is very huge and it would change the life of strong believer, Dev team is still on hard job and bringing the feature to the world.

[synechist]

Discussed in Slack:

atcsecure [1:04 PM] 
the BIP65 implementation that is happening now is a major milestone

atcsecure [2:28 PM] 
here is the new algo we are switching to

[2:28] 

Code:

Steps

Step1.
Initiator creates secret X, and hashes it to create H(X). Initiator also creates public private key pair (pubkey i1,i2 / privkey i2,i2). Responder creates public private key pair (pubkey r1,r2 / privkey r1,r2).

Step 2.
Initiator shares H(X) and pubkey i2 with responder. Responder shares pubkey r1 with intiator.

Step 3.
Initiator creates TxAb. TxAb can be redeemed after time T2 with privkey i1. At any time TxAb can redeemed with signature from privkey r1 and reveal of secret X. Initiator broadcasts TxAb onto the network.

Step 4.
Responder confirms TxAb. Responder creates TxBb. TxBb can be redeemed after T1 time with privkey r2. At any time TxBb can be redeemed with signature fom privkey i2 and reveal of secret X. Responder broadcasts TxBb onto the network.

Step 5.
Initiator creates TxBp which spends TxBb using privkey i2 and secret X. With the revealed secret, responder can create TxAp which spends TxAb with privkey r1 and secret X.

Notes

If initiator fails to broadcast TxAb in step 3, the exchange has failed and no steps need to be taken by the responder.

If responder fails to broadcast TxBb in step 4, initiator can create refund transaction TxAr which redeems TxAb after time T2 using privkey i1.

If initiator fails to spend TxBb on step 5 before time T1, responder can create refund transaction TxBr after time T1 using privkey r2. If responder fails to spend TxAb before time T2, initiator can use TxAr to get refund from TxAb.

[2:31] 
Also along side this change, an interesting topic has come up… and as part of the collateral system (which prevents spam/dos) we are looking at requiring the use of block on each DX as a collateral ( it would be transparent to the user, but you must run and hold block in the wallet to cover the collateral on the DX TX, the amount would be small but based on a % of the DX TX coin)

[2:31] 
@here thoughts on this requirement?

Discuss in Slack: http://blocknet.herokuapp.com

[truxton]

Wow what a rip off of Blocknet. Even using the same tag line.


https://bitcointalk.org/index.php?topic=1607111.0

[MR1]

Wow what a rip off of Blocknet. Even using the same tag line.


https://bitcointalk.org/index.php?topic=1607111.0

Our world is full of copycats. Looks like they forked Blocknet.

[truxton]

But its so blatant! .  The EXACT same tag line and they even ripped off the devs exact words for their site / article without any kind of permission.