Author

Topic: here is an idea for you coin creators (Read 382 times)

legendary
Activity: 4214
Merit: 4458
March 11, 2014, 10:29:55 PM
#1
i will explain it in laymans terms and hope someone out there can make it happen

instead of a TX being (in laymans terms)
send 1coin from Xs8dfsdf79sd8f9s8df98dsf79s89df79s8df to Xlghflkhuirtfsdfgdfjglsdkfjgdfgj

have a TX that has
send 1coin from Xs8dfsdf79sd8f9s8df98dsf79s89df79s8df to Xlghflkhuirtfsdfgdfjglsdkfjgdfgj
send 50coin from Ypplpdfgdfgljdlfhgsdjfskjdhfksdjfhksdjfsjdfk to Yersdjfsdjf,sdfnjdfkjfgkdfjgkdfjg

so that technically it creates 2 coins in one blockchain.

why? you maybe asking

decentralised exchanges..

where client John talks to Jane and agrees to swap 1X coin for 50Y coins. instead of using an exchange or escrow their client sets up a TXID
which they tell ech other. and then john signs his transaction to send 1X and sends a copy to Jane. Jane signs her transaction to send 50Y and sends a copy to John.
now that they both have a copy of eachothers signe transactions, they then sign both their transactions using theTXID they created right at the start. this then gets sent on the network work where jane relays it and john relays it. and then as other nodes pass it on and see that jane and johns TXID of the double transaction match, it ends up getting mined and then put into a block.

now the block shows that john owns 50Y coin and jane owns 1X.

i have tried to make it simple, feel free to question it or improve on the idea
Jump to: