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Topics - brainbug

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General Discussion / Factom-like feature in Bitshares
« on: January 11, 2016, 04:39:31 pm »
This topic shall discuss possibilities and use-cases for  BTS as a basis for Factom-like services in order to "sign"/timestamp documents, i.e., arbitrary files. To us, the Factom-approach of a 'virtual notary' appears the best approach to deliver a valueable service to people and industry that is needed frequently and virtually everywhere. Actually, since the idea should be more or less easy to implement into any coin or blockchain, we expect this feature to become 'blockchain standard' at some point in the (near) future.

We consider such kind of notary service (as integral part of Bitshares, or as additional service) quick and painless to (rudimentary) implement. As we are not following all the planet-wide developments here, we simply open a new topic on this matter (given that there is no comparable topic like this at bitsharestalk, to the best of our knowledge).

- What is needed in order to implement a rudimentary notary service using the Bitshares blockchain? Could BTS be used directly? Does this or a similar approach already exists in the Bitshares universe?

- In case someone builds a new notary software in the Bitshares universe, like the Factom-client, could one expect that the current Bitshares 2.x API will 'always' be there or, at least, being backward-compatible? That is probably the most crucial point for any software development on the Bitshares blockchain. How does Cryptonomex is handing/thinking about this?

More thoughts on this probably come soon.. how are you seeing this, what are your thoughts?

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