Topic: [ANN][DUX] Ducat Exchange Coin [PRELAUNCH] (Read 3663 times)

Maybe he realized there are at least 5 coins that plan to do something similar?

Nxt
Mastercoin
Bitshares
eMunie
Colored Coins

Sad because the author seemed to know his stuff, I see I'm the only one to funded his project on BitcoinStarter and anyway we have no answer or precisions or what is going on with the project.

Seems like this coin is dead

this is interesting

Interesting

We also need to be able to secure it though otherwise the great chain robbery has also been waiting for enough loot to be foolishly tied up in to make it worth PWNing.

-MarkM-

Sweet. We have needed this for a long time.

As a meta-level handling finances of many many chains, obviously its hash-power needs to be more than half as much as the total hash-power of all the chains that it serves combined, so that it would take at least a quarter of all the hashing power of all the chains that it purports to be "meta" to aka "above" to PWN it.

However, at the same time, if its hash power is more than half the hash power of any one of the chains that it deals with, then its miners could be tempted to PWN that other chain instead of mining this one.

So it also needs to not be less than half as much hashing power as any one of the chains that it serves.

So basically it seems to need to be merged mined alongside all of the chains that it serves, so that the same hashing power can secure all of them all at once...

Which is awesome because it provides all the chains of its hashing-type that have not yet enabled the ability to be merged mined as a secondary chain to do so - their incentive being that if they do, then they can participate in this distributed exchange...

However that is kinf of wishful thinking, since actually all the chaisn of its hashing-type are potential attackers whether they participate in the distributed exchange or not.

So really it does not merely need at least enough hashing power that all chains it serves cannot gang up to PWN it, it needs enough hashing power that all the hashing power of all the chains of its hashing-type, whether they participate in the exchange or not, cannot PWN it...

It is very sensible not to have it be an scrypt coin because already there are far too many scrypt coins for any but one single one of them to be able to have more than half the total scrypt hashing power that exists, thus already all, or possibly maybe all but one, of the scrypt coins already have less than half of the scrypt hashing power so all of them or possibly, maybe, there might be or might someday come to be one among them all that is not already less than 50% of the scrypt hashing power.

So basically all, or maybe if we are lucky or someday in the future all but one, of the scrypt coins are already way the heck too insecure to be trusted for any serious use...

 -MarkM-

Ripple is a working exchange. 

I may be wrong, but I believe MasterCoin is working on P2P exchange since September '13. Idea is freaking brilliant.
I don't think it is possible to make such a coin for 5BTC. There are some simple questions:
-How does one place an order?
-How does one cancel/modify an order?
-Do you check balances before you make a transaction?
-How do you charge ones altcoin balance?

Hi Facewreck, I've been thinking about exactly the same thing so I'm keen to get involved as some level, including financial investment. I also have web design/development experience for setting up a website and assisting with social media or other digital marketing and branding around the coin and the launch.

Personally I'd find a scrypt coin more appealing - and probably many in this community/ecosystem would too because Bitcoin mining has basically become an industrial process out of reach of individuals now.

I've got a number of ideas relating to implementation which may be of interest to you.

PM me for more details.

Group coin please

Seems promising because everybody is fed up of all these amateur platforms. We need something simple, if possible, which works quickly and which is always up.

make a pool real quick

But as a client of multiple exchanges how are funds escrowed until successful transaction in a provably safe and decentralized way?

The problem with altcoin exchanges is trust

I've been asking around for someone to work with on this same concept.

It's basically a wallet that has it's own blockchain, but is also a client of multiple existing chains. It's own chain would simply serve as the ledger of the distributed exchange.

Interesting and grand idea but zero information on how you would actually implement said interesting and grand idea nor specification of your unique ability to achieve said Interesting and grand idea. 5BTC will hardly fund a project of this scale.

One specific question:
How do you plan to handle deposits & withdrawals of other cryptocurrencies into the DUX transaction network in a trustworthy and decentralized way?

Have you set up any sort of development/launch timeframe?  Are you the dev?

whyy?