Author Topic: Bitshares API plugin to mimic Poloniex and others?  (Read 1185 times)

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Offline kani

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Bitshares API plugin to mimic Poloniex and others?
« on: December 22, 2016, 05:06:23 pm »
Hey guys,

Had this idea in my head rolling around for a little bit.  Want to see if this idea has merit and if there's anybody capable of delivering.

One of the things that could attract a whole new slew of bots to the Bitshares Asset Exchange would be to provide an API which is compatible with the bigger exchanges API.  This should mirror those APIs as closely as possible and lower the barrier for entry.

It could be created as a witness node plugin, with an operator running a node specifically for this purpose.  Ideally, somebody with a custom Poloniex bot could just point to the different server:port and run with very little changes to their existing code.

Obviously Poloniex should be in the mix, and maybe others?

Is this possible?
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Offline Chronos

Re: Bitshares API plugin to mimic Poloniex and others?
« Reply #1 on: December 22, 2016, 05:11:25 pm »
Well, it doesn't exist now, but that doesn't mean that it can't!

I think it would be possible, though the fact that Bitshares blocks are mined every 3 seconds, with exchange orders embedded in them, is certainly a difference from the mechanics of a centralized exchange. Any thoughts on if that could present a problem somehow?

The margin mechanism is much different, but that's not as important of an aspect for compatibility.

Offline xeroc

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Re: Bitshares API plugin to mimic Poloniex and others?
« Reply #2 on: December 22, 2016, 09:29:02 pm »
You can use python-graphenelib .. it has an exchange module that treies to be as close to polo as possible
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Offline kani

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Re: Bitshares API plugin to mimic Poloniex and others?
« Reply #3 on: December 24, 2016, 05:40:45 pm »
You can use python-graphenelib .. it has an exchange module that treies to be as close to polo as possible

Yes, that's a nice package.

The idea I described above differs in several important ways:
  • Sits at a different place in the software stack
  • Is language agnostic (for the bots, that is)
  • Removes need for running a local witness node (or placing undue burden on public API nodes)
  • The plugin architecture could streamline access to required mimicry data to better support many users, which could then be offered as a service
  • If done correctly, could reduce the barrier for entry to nearly zero
  • Which would mean anybody with a Polo bot could potentially just point it to a new server:port, change config, and press GO!
  • (of course, if someone wanted to run their own local witness with this plugin enabled, they could do so)
« Last Edit: December 24, 2016, 05:57:10 pm by kani »
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Offline xeroc

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Re: Bitshares API plugin to mimic Poloniex and others?
« Reply #4 on: December 25, 2016, 03:57:56 pm »
The point of a decentralized exchanges is that no one except you has control over your funds. That means that anything you do on the dex needs to be cryptographically signed with thr priv key of your account. That is exactly what the exchange.py module does. Anything else would just kill the purpose of a decentralized exchange ...

Btw..
The exchange.py module does not require you to run your own witness node. Openledger's node works fine aswell
a program could be written that PROVIDES a local api that mimics poloniex and deals with signing etc locally if thats what you want
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Offline kani

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Re: Bitshares API plugin to mimic Poloniex and others?
« Reply #5 on: December 25, 2016, 07:41:31 pm »
The point of a decentralized exchanges is that no one except you has control over your funds. That means that anything you do on the dex needs to be cryptographically signed with thr priv key of your account. That is exactly what the exchange.py module does. Anything else would just kill the purpose of a decentralized exchange ...

Yes, you know that and I know that.  Bot operators trading on Poloniex aren't as ideologically driven.  Profit is profit.

Btw..
The exchange.py module does not require you to run your own witness node. Openledger's node works fine aswell
a program could be written that PROVIDES a local api that mimics poloniex and deals with signing etc locally if thats what you want

Personally, I don't know enough about the inner workings of Bitshares or Poloniex software to have a good opinion on the best approach to produce a solution to what I describe (a websocket interface which mimics Poloniex WS API).

What I believe is most important is to offer the absolute easiest path for Polo bots to trade on BAE.  If the default mode is to bridge through a "trusted" node operator, then so be it.  For those who choose to run their own copy for decentralization, even better.

Now, the next question is whether or not there is a capable developer who believes the idea has merit and can deliver.
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Offline xeroc

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Re: Bitshares API plugin to mimic Poloniex and others?
« Reply #6 on: December 26, 2016, 07:53:25 pm »
I think it makes sense and think that i can implement this .. but how would that be funded?
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Offline kani

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Re: Bitshares API plugin to mimic Poloniex and others?
« Reply #7 on: December 27, 2016, 12:04:42 pm »
A node operator could monetize it by taking a small fee.

One advantage to a centralized offering, BTW, is that it could mask the operations of a single trade bot if that was important (assuming of course that multiple bots were using the service and all operations were by the operator account)
« Last Edit: December 27, 2016, 01:15:50 pm by kani »
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