bitcoin:federatedmarket
Differences
This shows you the differences between two versions of the page.
Both sides previous revisionPrevious revisionNext revision | Previous revision | ||
bitcoin:federatedmarket [2011/08/05 18:07] – donpdonp | bitcoin:federatedmarket [2024/01/31 04:08] (current) – external edit 127.0.0.1 | ||
---|---|---|---|
Line 1: | Line 1: | ||
===== Bid/Ask Federation ===== | ===== Bid/Ask Federation ===== | ||
- | A distributed database(ala gnutella) | + | A distributed database of asks/bids. An ask or bid offer is created, signed, and communicated into a telehash network. |
- | Queries are generated locally | + | Clients can subscribe to a telehash channel |
+ | |||
+ | Another service to take query requests for those who dont want to run a client that receives offer information. | ||
+ | |||
+ | basic distinction: | ||
- | con: High latency for queries. | ||
===== Escrow Service (ES) ===== | ===== Escrow Service (ES) ===== | ||
+ | One party visits ES home page to define a deal. (Deal State: Defining) \\ | ||
+ | The party provides: BTC amount description, | ||
+ | ES provides: deal ID/url. (Deal State: Confirming) | ||
- | Client | + | Party A communicates |
- | Client A provides: BTC amount description, | + | |
- | ES provides: | + | |
- | Client | + | Party A visits ES deal url. \\ |
+ | Party A confirms amounts by providing A's dwolla receiving address \\ | ||
+ | ES provides: ES's bitcoin receiving address | ||
- | Client | + | Party B visits ES deal url. \\ |
- | Client | + | Party B confirms amounts by providing B' |
- | ES provides: | + | ES provides: |
- | ES waits to receive BTC and USD. | + | ES waits to receive BTC and USD. (Deal State: Collection) |
Client A sends BTC through bitcoin client. \\ | Client A sends BTC through bitcoin client. \\ | ||
Client B sends USD through dwolla. | Client B sends USD through dwolla. | ||
+ | (Deal State: Dispursement) | ||
ES skims a transaction fee from BTC and/or USD. \\ | ES skims a transaction fee from BTC and/or USD. \\ | ||
ES sends remaining amount of BTC to client B and USD to client A. | ES sends remaining amount of BTC to client B and USD to client A. | ||
+ | ES deal URL shows history of the deal. | ||
bitcoin/federatedmarket.1312567659.txt.gz · Last modified: 2024/01/31 04:08 (external edit)