[ANN] CCEDK to Publish its Order Books on the BitShares Blockchain

[spartako]

 +5% Great News!!

[Tuck Fheman]

 +5% +5%

[monsterer]

CCEDK.USD or BitUSD is still being worked out, but I would prefer they perform the bridge function and so users of the exchange never have any liability.

If you can ensure that bitUSD is a suitable direct substitute for actual USD, you will have found the missing link which plagues ripple.

[Ben Mason]

This is really wonderful news!  Go Ronny!  Go Cryptonomex!  +5%

[xeroc]

I'm thinking the BitShares part will be transparent to the user. They'll log into an exchange like normal and may see some branding like, "Orderbook Powered by BitShares" or some such. BitShares will replace their MySQL or whatever they were using as a ledger.

Any exchange not using BitShares interoperability services will be at an extreme liquidity disadvantage.

That's basically equivalent to them throwing away their existing architecture for the 'exchange' part of CCDEK and 'just' becoming a gateway - they must have had some worthy incentive to relinquish that level of control...

edit: so are we talking about having CCDEK.USD, or will they just use plain bitUSD?

I wanted to see this happen at wallet.bitshares.org a few months ago .. havin an exchange do this is way nicer!!

+5%!

[carpet ride]

This is beautiful.

[bytemaster]

I'm thinking the BitShares part will be transparent to the user. They'll log into an exchange like normal and may see some branding like, "Orderbook Powered by BitShares" or some such. BitShares will replace their MySQL or whatever they were using as a ledger.

Any exchange not using BitShares interoperability services will be at an extreme liquidity disadvantage.

That's basically equivalent to them throwing away their existing architecture for the 'exchange' part of CCDEK and 'just' becoming a gateway - they must have had some worthy incentive to relinquish that level of control...

edit: so are we talking about having CCDEK.USD, or will they just use plain bitUSD?

CCEDK.USD or BitUSD is still being worked out, but I would prefer they perform the bridge function and so users of the exchange never have any liability.

[julian1]

 +5% Nice work!

[monsterer]

I'm thinking the BitShares part will be transparent to the user. They'll log into an exchange like normal and may see some branding like, "Orderbook Powered by BitShares" or some such. BitShares will replace their MySQL or whatever they were using as a ledger.

Any exchange not using BitShares interoperability services will be at an extreme liquidity disadvantage.

That's basically equivalent to them throwing away their existing architecture for the 'exchange' part of CCDEK and 'just' becoming a gateway - they must have had some worthy incentive to relinquish that level of control...

edit: so are we talking about having CCDEK.USD, or will they just use plain bitUSD?

[bytemaster]

I'm thinking the BitShares part will be transparent to the user. They'll log into an exchange like normal and may see some branding like, "Orderbook Powered by BitShares" or some such. BitShares will replace their MySQL or whatever they were using as a ledger.

Any exchange not using BitShares interoperability services will be at an extreme liquidity disadvantage.

Exactly. 

Fiat Deposit / Withdraw built into the "wallet" just like I hinted at earlier. 

[Riverhead]

I'm thinking the BitShares part will be transparent to the user. They'll log into an exchange like normal and may see some branding like, "Orderbook Powered by BitShares" or some such. BitShares will replace their MySQL or whatever they were using as a ledger.

Any exchange not using BitShares interoperability services will be at an extreme liquidity disadvantage.

[profitofthegods]

Wow, very cool.

[monsterer]

CCEDK will be a full BitShares hosted wallet (white label of our new Graphene GUI)

More detail please :)

[Troglodactyl]

Order book sharing between exchanges? I could put up a buy order on exchange A and get it filled by someone selling on exchange B?  :o

It's more complicated than that:

* You deposit USD on CCEDK
* You trade it for CCEDK.USD on CCEDK
* You withdraw CCEDK.USD to your bitshares wallet

At this point you can trade CCEDK.USD for any other token on the bitshares DEX. So in order for you to trade against another exchange's tokens, you'd need to have a market between (or a route to) CCEDK.USD and the other token.

</educated guess>

I would assume they're replacing the core of their exchange engine with BitShares, and turning their website into a combined web wallet and gateway.  So the website should look the same, but all of their trades should actually be on our blockchain and take advantage of that increased depth, without having to withdraw to your personally controlled BitShares wallet.  I'm curious if trading through their website instead of trading their assets through your own wallet will still mean trusting them with all the keys.

[bytemaster]

CCEDK will be a full BitShares hosted wallet (white label of our new Graphene GUI)