Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg (Read 542186 times)

Yes! This was my favorite project back in day. I thought it died off but shows what I know. Excited to see the progress here. Keep up the excellent work!

This is awesome progress and happy to hear about the updates! Keep up the great work!

The bridge also supports moving coins to other networks such as Solana and 2nd layer ETH(because ETH would be too expensive to run a watered down peg). But in the beginning Polygon seemed the best. Solana I never was fond of the inability to deterministically decompile contracts making it easier to close source.

With that said the web marketplace for commercial markets supports currently Polygon, DAI and of course can add WETH and others. Those can be found here:
https://app.bitbay.market

The community will let people know when it's time to update QT and Halo for any fork. Should be this year if tests continue to go well. Also the bridge needs a full audit and theres a small list of things I want fix with it anyways. And apologies for the several year hiatus and I know people have waited a long time for the project to be marketable again. Basically we had great success in 2017-18 with a 4000x increase from the lowest point with millions in daily volume. Then altcoin industry went bust a few years. Then major exchanges delisted because they were too lazy to make custom code for the peg. Then 3/4 of the exchanges we paid listing fees to stole our listing fee outright and vanished. The last exchange was Latoken who after a year of stalling followed our instructions. Then we got screwed by Latoken who stole users BitBay after they closed markets with a half-hearted attempt to adopt the peg(which I think only one of their devs pushed for and it worked for a while although they selectively messed with us). When the peg was actively trading there it worked to keep the price that the community and algorithm set so it proved the point that its sound in theory. Especially considering the low volume to keep the price was notable. But the community was reimbursed using my personal BAY which will be restored after the fork(we airdropped before to get it out of the way).

And finally, as Yshurik agreed to do QT work he was busy for a year on an exchange he was coding and I was also busy with just life in general. Finally he had time and that was this year mostly working on the c++ side of the code which the theory was demonstrated behind BitBay bridge in Python in the Halo wallet tests years ago that I wrote. And the Solidity code as you all know was working for a few years(bridge testnet). Lastly this year those web markets were developed. The entire system of double deposit runs autonomously powered by the users themselves without any governance so it's ultra secure. There was also two audits done on it we encourage more. Then there was the goal of making sure users self filter using AI. It's a great model for any internet service really since the rule of thumb is small businesses and forums aren't responsible for what users post. Yet if they could self-filter it takes away the moderation overhead and keeps markets on top for commercial goods and services.

This was actually another innovative tool made in the BitBay community since anyone can run an AI node so you could consider it decentralized AI moderation services and the rate limits are checked against active users public encryption key in the markets themselves which is a fantastic model for keeping bots off the system. The node works with a purely front end javascript architecture(no servers) as the nodes themselves use a simple tunnel with turnkey servers(like ngrok) so they  dont necessarily have to pay for a membership to ngrok if the volume of transactions and requests is low. They could run their own AI models(like Molmo) in lieu of API keys to sightengine or Pinata(IPFS). But I feel if they do that, they should battle test the moderation capabilities to make sure there is no mistakes and prompts are correct.

And of course everyone have a happy holidays. The community will post any updates as they come. I'm just rooting for BitBay from the crowd. Finally hopefully the bird learns to fly with it's own wings with less dependence on the community directly. It certainly has all the tools for it.

Howdy all,

We're still plugging away, and have developed polygon webmarkets, an AI moderation service for items, an exchange that allows for the decentralized, high-frequency trading of Bitcoin and other UTCO coins, and we're getting ready to release a hardfork that will move coins back and forth across a bridge from our mainnet to Polygon. We'll keep you all updated as we get into marketing mode. Keep the faith!

Older and newer transactions were mixed up apparently without criterion, but we know code has its' own one. Will share a screenshot for sure if it happens again but take into consideration it was the first time I noticed it in years.

Could it be that it was simply the transactions that you thought were in front were out on a stake? Because staking moves funds and ties them up theoretically. Or was the order of the dates of the transactions showing older TX before newer ones? You can PM me a screenshot if it happens again. 

Not sure when it happened , I usually let my QT wallet up and running 24h hours/7 days in background and from time to time I just go check if I received some staking reward ( so yes am constantly staking ) when I noticed TX order was messed up.
Just for the record,  I closed the wallet and re-launched it and everything came back to normal.

Thanks for reporting this, currently we are updating the QT for the bridge. Does this happen after a transaction or just randomly? Are you staking when it happens?

A quick question it happened a couple of times that the recent transactions tab in Dashboard page of my qt wallet was messed up (not in chronological order) but if I close and restart it everything is fine : just curious about the reasons that may cause this.

Thanks for the update! Might have to hop on Telegram sooner or later

Very good theres the bridge which we are doing the c++ side of it and lots of progress was made. Theres also the web markets with support for all major coins and also the sister project some of our community members are working on for a Bitcoin based DEX(one of the only ones to my knowledge). To see the progress if you have a Telegram it actually gets pretty active there. BitBay is very much doing well and hopefully it will get back to active trading on AMM exchanges on those networks like polygon with a sort of watered down peg in solidity.

Any updates? Been quiet on here for a while.

Looking forward to your progress!

We can collaborate in the future.


Shouts - Decentralized Social Network
https://shouts.social

Thanks for posting the updates 

Yeah everything is moving along nicely

BitBay Weekly Update (June 4th)

Development Updates:

- We have exciting news to share! Our developer has managed to allocate some time in his busy schedule to start updating the C++ code for BitBay. This update will enable BitBay to bridge into the Ethereum-based ecosystem as an ERC-20 token. More time will be allocated as he completes his other major task. This will allow us to bring the dynamic peg protocol to all EVM's. It is a form of price stability without being hard pegged.

- Additionally, we have discovered that Avalanche (AVAX) has released a protocol that allows any ERC-20 token to be used for gas on any platform. This development will significantly benefit BitBay's bridge in the DEFI sector. https://twitter.com/el33th4xor/status/1665368786004852737?s=20. Bridged BitBay tokens still utilize a form of our dynamic peg protocol, the peg requires more contracts than usual. With this new protocol from AVAX, swapping and adjusting the peg index will become extremely affordable. You can find the Goerli Testnet of BitBay's Swap here: https://dzimbeck.github.io/test-page/.

- Moreover, this improvement will enhance the cost-efficiency of our EtHalo marketplace. The Goerli Testnet EtHalo beta can be accessed at: https://bithalo.org/Ethalo/. EtHalo is a double deposit escrow marketplace that operates without a middleman. By eliminating the need for a middleman, we reduce fees and increase profitability.

Thank you for your continued support! We are getting closer to the finish line! For more information on how the dynamic peg works feel free to check out this presentation: https://bitbay.market/downloads/bitbay-dynamic-peg-intro.pdf

BitBay's Weekly Update (4/28)

Dear BitBay Community,

As we near completion of our development we have decided to start posting weekly update to share our progress:

- Updated some features on the BitBay.Market website including an updated roadmap. It's exciting to see how many milestones have been completed and how close we are to completing the core build. We still are waiting to start the last bit of development needed for our coin to be able to bridge to the Ethereum network. After doing so we will be able to provide Defi with the revolutionary dynamic peg protocol. If we get delayed too much longer we will look for alternative ways to complete design.

- Beta testing of our decentralized marketplace on EtHalo continues to make progress. Thanks to the community for helping us test. We feel most bugs are now discovered. We feel the implementation of double deposit escrow smart contracts on the Ethereum network will significantly contribute to the expansion of our decentralized marketplace, and give BitBay more recognition. BitBay will be able to work on both our own marketplace and Ethereum's marketplace once the bridge coding fork is complete

As always, we encourage you to reach out to us with your feedback, suggestions, or any questions you may have. Your insights are invaluable to us, and we are here to listen. Join us on telegram for a more active community.

The BitBay Team

Have you even checked the progress?

Defi wallet GUI is almost complete. Just need to finish updating the coding in BitBay to make compatible.
https://dzimbeck.github.io/test-page/


Once NightTrader core backend coding is done we can complete bridge coding.
New frontend is nearing completion.

Will update community with images once completed

lol see you in 2030

Thanks a lot David
keep up good works mate.
Regards

https://bitbay.market/downloads/index.html

Here at downloads under QT or Markets client you can see a link to bootstrap releases.