New DEX exchange ANN

[monsterer]

3.This is more for Mr Lee than here but how do they plan to prevent someone from flooding the system with (matched) orders and not following through with the actual coin transfers?

They can't - you're thinking too decentralised. The orders are matched in a trusted environment.

[zerosum]

Good for them!

1.Seem far more trivial for BTS and NXT to implement this (just needing multisign holders of the traded coins on top of existing market functionality).

2.I will even claim that if we currently have muli-sign IOU issuance (do we?), we have a superior system to the proposed one already in Bitshares.

3.This is more for Mr Lee than here but how do they plan to prevent someone from flooding the system with (matched) orders and not following through with the actual coin transfers?

[hadrian]

Looks like the Peercoin/NuBits/NuShares guys what to start a new exchange to compete with us

"B&C Exchange will be an open-source decentralized exchange that completes cryptocurrency trades between users by utilizing multisig signers that compete for blockchain rewards based on their effectiveness and honesty. Trades will occur using real cryptocurrencies such as Bitcoin and NuBits, as opposed to artificial proxy cryptoassets like those found in NXT or BitShares"


https://bitcointalk.org/index.php?topic=1033773.0

BitAssets are arguably no more "artificial" than Bitcoin, and every bit as "real" as Bitcoin.

[Akado]

"The BitShares community has found the announcement3, and while I hope they are constructive in their comments, history tells us that we may be a target for them."

Remember guys, be nice  ;)

Tbh I find it interesting, it's nice to see competition around and I'm curious about it

I agree with Shentist though, why was it a "dilution" for us and "auction" for them? Well, it's a nice play with words, guess we shoulda been smarter

[monsterer]

This is basically a more decentralised version of metaexchange (with the limit order feature that I'm currently adding). They will need to run coin daemons on their servers for every coin which is tradeable, like we do. The difference between us and them is that they keep all their accounting in a blockchain, whereas we keep it in mysql.

Maybe it's time you decentralize MetaExchange. Keep up and surpass the competition.

I don't think there is any functional advantage to doing that. They will have the same amount required trust from users as we do - each liquidity provider on metaexchange is essentially like one of their 'signers'. They still have counterparty risk in that a signer could just destroy all their keys, rendering the funds lost.

[luckybit]

Bitshares may be "synthetic" assets but it's also why you don't have capital gains risk for trading it. It's like kind exchange while if you trade Bitcoin for NXT it might not still be that.

So Bitshares is significantly less risk in terms of the SEC and other entities. All of the competitors seem to give no attention at all to compliance or to protecting the participants from legal risk.

[luckybit]

This is basically a more decentralised version of metaexchange (with the limit order feature that I'm currently adding). They will need to run coin daemons on their servers for every coin which is tradeable, like we do. The difference between us and them is that they keep all their accounting in a blockchain, whereas we keep it in mysql.

Maybe it's time you decentralize MetaExchange. Keep up and surpass the competition.

[Shentist]

if the starting with B&C the NuShares capital has to increase of 12.5% to fund the project. In BitShare terms it would be called dilution and inflation they call it auction.

[nomoreheroes7]

In other news, our friend Rune is also giving us competition for pegged crypto:
https://www.reddit.com/r/ethereum/comments/33d5in/edollar_full_presentation_and_demo_at_next/

I miss Rune... :'(

Remember that time he wanted to do a hostile takeover of bitcoin?

lol good times...

[xeroc]

decentralized exchange .... utilizing multisig signers ... rewards based on their effectiveness and honesty.

I stripped the OP and highlighted the relevant words for you

//edit: the comparison with NXT and BTS is just non-sense. Both sell ASSETS as a token .. which are "real" crypto tokens without separate blockchain ..
though this may hold for bitassets .. does NXT have something comparable?

[monsterer]

This is basically a more decentralised version of metaexchange (with the limit order feature that I'm currently adding). They will need to run coin daemons on their servers for every coin which is tradeable, like we do. The difference between us and them is that they keep all their accounting in a blockchain, whereas we keep it in mysql.

[speedy]

So they claim that BitAssets are synthetic, but then they propose an exchange that trades Bitcoin against Nubits. So they want you to believe that collateral guaranteed by a blockchain is more synthetic than the promises made by anonymous custodians who promise to keep collateral and buy back your Nubits.

I am impressed with how they managed to keep it going for so long - they have even reduced their supply of Nubits just like BitUSD does.

In other news, our friend Rune is also giving us competition for pegged crypto:
https://www.reddit.com/r/ethereum/comments/33d5in/edollar_full_presentation_and_demo_at_next/

[fav]

don't forget SuperNET's InstaDEX - they're in Beta soon

[Pheonike]

We need to get this bird in the air because others planes are taxiing to the runway.

[luckybit]

That is actually an interesting idea and seems like it could work. Can they implement it?

This is exactly the kind of innovation we need. Free market competition between communities of innovators will only improve the quality of the ecosystem. This is one of the first times in human history we have a nearly-free market.

Now we can see which solution is more efficient between DPoS and theirs. We can also see which group of programmers win the competition because just having a good solution doesn't mean they'll do a good job implementing it.