METAmarket - Trustless Federated Marketplaces
3 messages, 1 to 2 May 2015. Started by Marc D. Wood.
Marc D. Wood (2), Melvin Carvalho
METAmarket: Trustless Federated Marketplaces
Quoted text (1 line)
>>> http://metamarket.biz <<<
* * * Introduction
METAmarket is an open source protocol and proof-of-concept reference client specifying a trustless federated marketplace which uses Bitcoin as a universal currency and Bitmessage as a P2P communication network. Time-locked refund transactions ensure that incentives are aligned toward completing the trade without the need for trusted third parties. Systemic vulnerabilities such as transaction malleability are mitigated through the use of a federated reputation model. This document is a non-technical overview of how the METAmarket client and protocol work. For more technical details, see the protocol specification.
Motivation
Overly centralized marketplaces and payment services extract high fees, impose and abuse excessive control and remove any hope of privacy from users. As more commerce moves online, many consumers may find their lifetime history of purchases (including books, personal items and location details) for sale to advertisers, employers, curious neighbors, stalkers, political opponents and government agencies. An ideal system would be one of secure private transactions directly between buyer and seller without middle men collecting data or adding fees. Such systems are now feasible by combining recently developed technologies for anonymous decentralized payment and messaging systems.
Client
To use the marketplaces, a client application which implements the METAmarket protocol is required. The client is used to post, browse and execute trades. It also requires a Bitcoin Core wallet to handle payments and refunds. A working client is available at:
On 2 May 2015 at 00:57, Marc D. Wood <metamarc@metamarket•biz> wrote:
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> METAmarket: Trustless Federated Marketplaces > >>> http://metamarket.biz <<< > > * * * > Introduction > > METAmarket is an open source protocol and proof-of-concept reference > client specifying a trustless federated marketplace which uses Bitcoin as > a universal currency and Bitmessage as a P2P communication network. > Time-locked refund transactions ensure that incentives are aligned toward > completing the trade without the need for trusted third parties. Systemic > vulnerabilities such as transaction malleability are mitigated through the > use of a federated reputation model. This document is a non-technical > overview of how the METAmarket client and protocol work. For more > technical details, see the protocol specification. > > Motivation > > Overly centralized marketplaces and payment services extract high fees, > impose and abuse excessive control and remove any hope of privacy from > users. As more commerce moves online, many consumers may find their > lifetime history of purchases (including books, personal items and > location details) for sale to advertisers, employers, curious neighbors, > stalkers, political opponents and government agencies. An ideal system > would be one of secure private transactions directly between buyer and > seller without middle men collecting data or adding fees. Such systems are > now feasible by combining recently developed technologies for anonymous > decentralized payment and messaging systems. > > Client > > To use the marketplaces, a client application which implements the > METAmarket protocol is required. The client is used to post, browse and > execute trades. It also requires a Bitcoin Core wallet to handle payments > and refunds. A working client is available at: > > http://github.com/metamarcdw/metamarket >
Is there any relation between this and the work satoshi was putting into the core before he left?
https://github.com/bitcoin/bitcoin/commit/5253d1ab77fab1995ede03fb934edd67f1359ba8
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On Fri, May 1, 2015 10:01 pm, Melvin Carvalho wrote:
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> > Is there any relation between this and the work satoshi was putting into > the core before he left? > > https://github.com/bitcoin/bitcoin/commit/5253d1ab77fab1995ede03fb934edd6 > 7f1359ba8 > >
Melvin,
This is certainly a similar concept. It is a software for creating markets with variable levels of privacy and censorship resistance. It is built directly on top of Bitcoin Core and Bitmessage.
I believe this project to be in the spirit of Satoshi's original plan for a bitcoin marketplace but it is not the same project, and I certainly am not Satoshi. :)
Marc D. Wood