Topic: FULLY DECENTRALIZED EXCHANGE. HELP NEEDED! (Read 385 times)

Hello Bitfighter,

We can help you assemble a decentralized, distributed trade. In addition, we can address any inquiries that you may have identified with your undertaking or anything that you might need to get some information about cryptocurrency exchange development.

Thanks
Stephen Morgan
OpenXcell a leading Custom Software Development Company

I have a development company and we work with our own Peatio for centralized exchanges and Bitshares or Forkdelta for decentralized.

I would like to say that DEXs are a bit of a myth. There is always a centralized chokepoint. The UI will be hosted on a web server. If you want to integrate other cryptos into Bitshares then you need a wallet to deposit the other cryptos.

This is good stuff...Thank you, i will look into this.

We can help you build a decentralized, peer-to-peer exchange. Besides, we can answer any questions that you may have related to your business venture or anything that you may want to ask about cryptocurrency exchange development. 

It sounds like you need to build on the Blocknet Protocol.  It hits all items in your list and you can build your own white label DEX on it.

1.  It is fully decentralized and can't be shut down by any government agency.  The order book is validated and broadcasted by a decentralized network of community owned and operated service nodes running full blockchains to validate utxos being used in orders, effectively maximizing security (absolutely no centralized entity is required for the exchange to operate).

2.  When an order is accepted, the trade is executed p2p via an OP_CHECKLOCKTIMEVERIFY-based trustless atomic swap.

3.  The project is open source, the Github repo can be found here: https://github.com/BlocknetDX/BlockDX ... contributed by both anonymous and non-anonymous devs (if your fear with the non-anonymous contributor is related to the blockchain being able to be squeezed by regulatory bodies: no contributor or entity for that matter has total control over the blockchain project and the blockchain cannot be stopped by any current contributor).

4.  As was mentioned in point 3 and point 1, no government can shut down the exchange because service node operators are completely anonymous and literally spread across every continent in the world (Antarctica too probably  ).  Additionally, anyone can operate a service node with a sufficient amount of BLOCK and the exchange can function with a minimum of one service node.

5.  As was also mentioned in point 3, the blockchain is entirely open source.


Blocknet features a Proof of Stake consensus mechanism utilizing the Quark algorithm.  Service nodes are similar to a masternode in that there is a list that is validated by locked utxo collateral (5000 BLOCK).  The BLOCK token is used as a fee paid to the service nodes in order to trade on the exchange so as to compensate them for the services they are providing to participants in the ecosystem.  The blockchain also features a block reward of 1 BLOCK per minute where 0.3 BLOCK is awarded to the staker and 0.7 BLOCK is awarded to a random service node.  BLOCK is also needed to operate a service node in order to receive trading and protocol fees alike (5000 BLOCK is a required lock-in per service node as was mentioned above).  Service nodes also receive a vote in the governance system built into the blockchain itself.

As I mentioned before, you can easily build your own DEX on the API.  This will allow you to additionally monetize your own exchange after fees are paid to the underlying Blocknet protocol itself.  Doing this will also save you the hassle of launching your own blockchain and creating a brand new ecosystem, and instead allow you to leverage the already existing super decentralization of the Blocknet protocol itself.

Of course an ico can be created for that within bitcoin talk community plus my personal investment...right now I am looking at the community to throw out ideas on how we can achieve this....

First, dont believe on that newbie posting above on such service being mentioned.

For now i dont even believe that fully decentralized exchange exist even IDEX,ED,FORK. All can be seized if they wanted to.

Very well said which this wont really be that easy.

its not that easy finding people to help you, because they all want to be paid, they are mostly urban proletarians that have to pay bills to their owners (equity holders)

I saw your post just now that states about you're aiming to have a great idea to explore own fully decentralized exchange.

Appreciate you and Glad to meet your requirements here !

Alwintechnologies has the great team around 25+ blockchain developers  and we are professional & certified blockchain developers merging together. And the team heading towards creating digital assets exchange, ICO, STO development, token development, cryptocurrency development and we can able to take out more risky projects on blockchain technology.

And one more thing, our certified blockchain developers recently launched enterprise secured trading algorithm such as Dopamine.

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there will be commission model. profit is necessary.hackathons will be organised and devs will be rewarded for finding bugs and improving the project.

 bisq uses tor browser.
i would have to consider this, as it will make difficult for it to be shut down. do i have other options?

bisq has the fiat to crypto option. mine is fully crypto to crypto.

making a whole blockchain would be time consuming. it would be good to build on a decentralised blockchain...which there are not many. i will look into building on fork delta engineon Etherium.

my vision for this exchange is not to be like IDEX which can prevent US citizens from using the exchange.


i hope you could provide more inputs for me and set me on the right path. Thank you.

For begin, you can take the engine from forkdelta, where you inserest - comission in etherium. Under the terms of the smart contract etherium based dexes, you will receive a commission. Later you may add new custom opportunities, perphaps lightning network for moment exchange.

If it's going to be open source, decentralized and P2P then I'm going to assume you're not planning to make it profitable for you?

If that's the case and you're willing to hire developers, I suggest funding some of the current exchanges like Bisq instead of building one from scratch.

I wish to create a decentralized exchange i.e,

1. fully decentralized
2. peer to peer
3. created by annon devs
4. no govt can shut down
5. open source so devs can input and work on improving the project


I need help in building this. Please advise if this is possible? as well as the type of consensus mechanism, token purpose i.e, what the token should do in the ecosystem that would work this project? I am not a techie but believe firmly in the decentralization of exchanges which is full of scam bots and fake volume that i am totally pissed off by.

I know this is not easy, people will not trust annon devs and founder, but i can't shake this off and its gnawing within me. So i need your advise to which how to go about this.

I will be really grateful for your kind advice. Thanks.