Implementing trading across chains
5 messages, 8 to 14 Feb 2013. Started by Petr Praus.
Petr Praus (3), Jorge Timón (2)
Hi,
I intend to implement trading across chains in a P2P manner (as described by Mike Hearn in https://en.bitcoin.it/wiki/Contracts#Example_5:_Trading_across_chains). Note, this is indended more as an alternative chain development, I don't have any plans for merging it back into main client (not because I don't want to, but because I think it wouldn't be accepted). Before I dive into it, I thought it might be a good idea to ask here if the community has any useful ideas or comments on this topic?
Thanks to Gary Rowe I know about Open Transactions<https://github.com/FellowTraveler/Open-Transactions>. They can do "multicurrency trading" too, but it's objectives are quite ambitious and I'm looking at making relatively small changes in the mainline Bitcoin client rather than diving into something entirely new.
A little background on why am I doing this, can be found here<https://groups.google.com/d/topic/bitcoinj/lmVSF8yaJHk/discussion>. In short it's part of research towards my Master's thesis (more precisely, an excuse to hack on Bitcoin and sell it as research :)) which should be about multicurrency (alternative chains) in Bitcoin.
Thanks, Petr
PS: I hope I'm not too off topic here, but this<https://bitcointalk.org/index.php?topic=15527.0> thread indicates it should be fine to post alternative development questions on this.
Hi, you may be interested in a couple of related projects.
Colored coins uses satoshis to represent smart property, shares, IOUs of another currency...Colored coins can be atomically traded for bitcoin. If you implement the trade across chains contract they would also be tradeable for another chain currencies like namecoin or freicoin.
Ripple is a concept by which people that trust each other on a network are able to pay with IOUs transitively. It has a new p2p implementation that is still on development. The new implementation is very similar to bitcoin in certain senses but it has no mining. Bitcoin IOUs can be traded there.
Good luck with the implementation, this is a good feature to have, even if it's not on the main client.
On 2/8/13, Petr Praus <petr@praus•net> wrote:
Quoted text (31 lines)
> Hi, > > I intend to implement trading across chains in a P2P manner (as described > by Mike Hearn in > https://en.bitcoin.it/wiki/Contracts#Example_5:_Trading_across_chains). > Note, this is indended more as an alternative chain development, I don't > have any plans for merging it back into main client (not because I don't > want to, but because I think it wouldn't be accepted). Before I dive into > it, I thought it might be a good idea to ask here if the community has any > useful ideas or comments on this topic? > > Thanks to Gary Rowe I know about Open > Transactions<https://github.com/FellowTraveler/Open-Transactions>. > They can do "multicurrency trading" too, but it's objectives are quite > ambitious and I'm looking at making relatively small changes in the > mainline Bitcoin client rather than diving into something entirely new. > > A little background on why am I doing this, can be found > here<https://groups.google.com/d/topic/bitcoinj/lmVSF8yaJHk/discussion>. > In short it's part of research towards my Master's thesis (more precisely, > an excuse to hack on Bitcoin and sell it as research :)) which should be > about multicurrency (alternative chains) in Bitcoin. > > Thanks, > Petr > > PS: I hope I'm not too off topic here, but > this<https://bitcointalk.org/index.php?topic=15527.0> thread > indicates it should be fine to post alternative development questions on > this. >
Jorge, thanks for bitcoinx tip, I didn't know about it and it's certainly related. I'll have a closer look Regarding Ripple, I tried it but as far as I can tell, it doesn't have any contract enforcement (by technical means) built in.
On 11 February 2013 05:03, Jorge Timón <jtimonmv@gmail•com> wrote:
Quoted text (64 lines)
> Hi, you may be interested in a couple of related projects. > > Colored coins uses satoshis to represent smart property, shares, IOUs > of another currency...Colored coins can be atomically traded for > bitcoin. If you implement the trade across chains contract they would > also be tradeable for another chain currencies like namecoin or > freicoin. > > http://www.bitcoinx.org/ > > Ripple is a concept by which people that trust each other on a network > are able to pay with IOUs transitively. It has a new p2p > implementation that is still on development. The new implementation > is very similar to bitcoin in certain senses but it has no mining. > Bitcoin IOUs can be traded there. > > https://ripple.com/ > > Good luck with the implementation, this is a good feature to have, > even if it's not on the main client. > > > On 2/8/13, Petr Praus <petr@praus•net> wrote: > > Hi, > > > > I intend to implement trading across chains in a P2P manner (as described > > by Mike Hearn in > > https://en.bitcoin.it/wiki/Contracts#Example_5:_Trading_across_chains). > > Note, this is indended more as an alternative chain development, I don't > > have any plans for merging it back into main client (not because I don't > > want to, but because I think it wouldn't be accepted). Before I dive into > > it, I thought it might be a good idea to ask here if the community has > any > > useful ideas or comments on this topic? > > > > Thanks to Gary Rowe I know about Open > > Transactions<https://github.com/FellowTraveler/Open-Transactions>. > > They can do "multicurrency trading" too, but it's objectives are quite > > ambitious and I'm looking at making relatively small changes in the > > mainline Bitcoin client rather than diving into something entirely new. > > > > A little background on why am I doing this, can be found > > here<https://groups.google.com/d/topic/bitcoinj/lmVSF8yaJHk/discussion>. > > In short it's part of research towards my Master's thesis (more > precisely, > > an excuse to hack on Bitcoin and sell it as research :)) which should be > > about multicurrency (alternative chains) in Bitcoin. > > > > Thanks, > > Petr > > > > PS: I hope I'm not too off topic here, but > > this<https://bitcointalk.org/index.php?topic=15527.0> thread > > indicates it should be fine to post alternative development questions on > > this. > > > > > -- > Jorge Timón > > http://freico.in/ > http://archive.ripple-project.org/ >
Well, if it's even possible to trade across "chains" with Ripple (and I don't know of any reason shouldn't be), you will have to wait to the release of the full node (validator) code, for now only a javascript web client is open sourced. But it seems they at least have plans for contracts judging from the wiki:
https://ripple.com/wiki/Contracts
On 2/13/13, Petr Praus <petr@praus•net> wrote:
Quoted text (79 lines)
> Jorge, thanks for bitcoinx tip, I didn't know about it and it's certainly > related. I'll have a closer look > Regarding Ripple, I tried it but as far as I can tell, it doesn't have any > contract enforcement (by technical means) built in. > > > On 11 February 2013 05:03, Jorge Timón <jtimonmv@gmail•com> wrote: > >> Hi, you may be interested in a couple of related projects. >> >> Colored coins uses satoshis to represent smart property, shares, IOUs >> of another currency...Colored coins can be atomically traded for >> bitcoin. If you implement the trade across chains contract they would >> also be tradeable for another chain currencies like namecoin or >> freicoin. >> >> http://www.bitcoinx.org/ >> >> Ripple is a concept by which people that trust each other on a network >> are able to pay with IOUs transitively. It has a new p2p >> implementation that is still on development. The new implementation >> is very similar to bitcoin in certain senses but it has no mining. >> Bitcoin IOUs can be traded there. >> >> https://ripple.com/ >> >> Good luck with the implementation, this is a good feature to have, >> even if it's not on the main client. >> >> >> On 2/8/13, Petr Praus <petr@praus•net> wrote: >> > Hi, >> > >> > I intend to implement trading across chains in a P2P manner (as >> > described >> > by Mike Hearn in >> > https://en.bitcoin.it/wiki/Contracts#Example_5:_Trading_across_chains). >> > Note, this is indended more as an alternative chain development, I >> > don't >> > have any plans for merging it back into main client (not because I >> > don't >> > want to, but because I think it wouldn't be accepted). Before I dive >> > into >> > it, I thought it might be a good idea to ask here if the community has >> any >> > useful ideas or comments on this topic? >> > >> > Thanks to Gary Rowe I know about Open >> > Transactions<https://github.com/FellowTraveler/Open-Transactions>. >> > They can do "multicurrency trading" too, but it's objectives are quite >> > ambitious and I'm looking at making relatively small changes in the >> > mainline Bitcoin client rather than diving into something entirely new. >> > >> > A little background on why am I doing this, can be found >> > here<https://groups.google.com/d/topic/bitcoinj/lmVSF8yaJHk/discussion>. >> > In short it's part of research towards my Master's thesis (more >> precisely, >> > an excuse to hack on Bitcoin and sell it as research :)) which should >> > be >> > about multicurrency (alternative chains) in Bitcoin. >> > >> > Thanks, >> > Petr >> > >> > PS: I hope I'm not too off topic here, but >> > this<https://bitcointalk.org/index.php?topic=15527.0> thread >> > indicates it should be fine to post alternative development questions >> > on >> > this. >> > >> >> >> -- >> Jorge Timón >> >> http://freico.in/ >> http://archive.ripple-project.org/ >> >
Ah, I missed this, thanks.
On 13 February 2013 15:49, Jorge Timón <jtimonmv@gmail•com> wrote:
Quoted text (101 lines)
> Well, if it's even possible to trade across "chains" with Ripple (and > I don't know of any reason shouldn't be), you will have to wait to the > release of the full node (validator) code, for now only a javascript > web client is open sourced. But it seems they at least have plans for > contracts judging from the wiki: > > https://ripple.com/wiki/Contracts > > > On 2/13/13, Petr Praus <petr@praus•net> wrote: > > Jorge, thanks for bitcoinx tip, I didn't know about it and it's certainly > > related. I'll have a closer look > > Regarding Ripple, I tried it but as far as I can tell, it doesn't have > any > > contract enforcement (by technical means) built in. > > > > > > On 11 February 2013 05:03, Jorge Timón <jtimonmv@gmail•com> wrote: > > > >> Hi, you may be interested in a couple of related projects. > >> > >> Colored coins uses satoshis to represent smart property, shares, IOUs > >> of another currency...Colored coins can be atomically traded for > >> bitcoin. If you implement the trade across chains contract they would > >> also be tradeable for another chain currencies like namecoin or > >> freicoin. > >> > >> http://www.bitcoinx.org/ > >> > >> Ripple is a concept by which people that trust each other on a network > >> are able to pay with IOUs transitively. It has a new p2p > >> implementation that is still on development. The new implementation > >> is very similar to bitcoin in certain senses but it has no mining. > >> Bitcoin IOUs can be traded there. > >> > >> https://ripple.com/ > >> > >> Good luck with the implementation, this is a good feature to have, > >> even if it's not on the main client. > >> > >> > >> On 2/8/13, Petr Praus <petr@praus•net> wrote: > >> > Hi, > >> > > >> > I intend to implement trading across chains in a P2P manner (as > >> > described > >> > by Mike Hearn in > >> > https://en.bitcoin.it/wiki/Contracts#Example_5:_Trading_across_chains > ). > >> > Note, this is indended more as an alternative chain development, I > >> > don't > >> > have any plans for merging it back into main client (not because I > >> > don't > >> > want to, but because I think it wouldn't be accepted). Before I dive > >> > into > >> > it, I thought it might be a good idea to ask here if the community has > >> any > >> > useful ideas or comments on this topic? > >> > > >> > Thanks to Gary Rowe I know about Open > >> > Transactions<https://github.com/FellowTraveler/Open-Transactions>. > >> > They can do "multicurrency trading" too, but it's objectives are quite > >> > ambitious and I'm looking at making relatively small changes in the > >> > mainline Bitcoin client rather than diving into something entirely > new. > >> > > >> > A little background on why am I doing this, can be found > >> > here< > https://groups.google.com/d/topic/bitcoinj/lmVSF8yaJHk/discussion>. > >> > In short it's part of research towards my Master's thesis (more > >> precisely, > >> > an excuse to hack on Bitcoin and sell it as research :)) which should > >> > be > >> > about multicurrency (alternative chains) in Bitcoin. > >> > > >> > Thanks, > >> > Petr > >> > > >> > PS: I hope I'm not too off topic here, but > >> > this<https://bitcointalk.org/index.php?topic=15527.0> thread > >> > indicates it should be fine to post alternative development questions > >> > on > >> > this. > >> > > >> > >> > >> -- > >> Jorge Timón > >> > >> http://freico.in/ > >> http://archive.ripple-project.org/ > >> > > > > > -- > Jorge Timón > > http://freico.in/ > http://archive.ripple-project.org/ >