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Can math and bitcoin solve the problem of trusting a third party to run an honest bitcoin-dollar exchange?
The right question is: ... and what will be the cost of this solution?
Topic: Can math and bitcoin solve the problem of third party trust....... (Read 1063 times)
The right question is: ... and what will be the cost of this solution?
October 27, 2014, 07:02:16 AM
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Can math and bitcoin solve the problem of trusting a third party to run an honest bitcoin-dollar exchange?
Answer is yes. One step is only needed to trust a third party called decentralized exchange.Cool.. Thank you for the clarification sir.
October 25, 2014, 08:55:48 PM
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Can math and bitcoin solve the problem of trusting a third party to run an honest bitcoin-dollar exchange?
Answer is yes. One step is only needed to trust a third party called decentralized exchange. October 25, 2014, 07:54:12 PM
Can math and bitcoin solve the problem of trusting a third party to run an honest bitcoin-dollar exchange?
This is a Compare & contrast on how math does it for Bitcoin & how the pros do it for stocks vs. "MtGox" type exchange.
http://szabo.best.vwh.net/ttps.html
For Bitcoin/fiat exchange one needs traditional segregation of duties. e.g. 4 peers: broker/exchange/clearinghouse/custodian. ~ Nick Szabo
Some segregation of duties is far better than none, but more is better & Nakamoto consensus allows much more to be much cheaper. ~ Nick Szabo
This is a Compare & contrast on how math does it for Bitcoin & how the pros do it for stocks vs. "MtGox" type exchange.
http://szabo.best.vwh.net/ttps.html
For Bitcoin/fiat exchange one needs traditional segregation of duties. e.g. 4 peers: broker/exchange/clearinghouse/custodian. ~ Nick Szabo
Some segregation of duties is far better than none, but more is better & Nakamoto consensus allows much more to be much cheaper. ~ Nick Szabo
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