Yesterday I submitted the code to jl777 for integrating PAX into BitcoinDark.
He will be testing it over the next couple of weeks.
PAX = Pegged Asset Exchange, and yes, that's exactly what it is.
Matthew
How does that work in really general terms?
Choose asset pair: BTCD/ [Gold/USD/Euro/Oil/whatever]
Lock the BTCD / chosen asset (I already implemented this with a simple rpc call)
Submit a redeem at some point in the future, you are then rewarded with X number of BTCD, depending on current price of asset.
Probably stupid question, but who would I be betting against? Other users or the "house"?