Topic: [idea] a new altcoin (without actual own coins inside) to "federate" (Read 520 times)

Only the ones you're actually interested into trade.

If you plan to federate through many altcurrencies is probably because you plan to provide a service; if you do plan to offer a service it's perfectly reasonable to you can provide at least 1TB storage as well to use in your network.

The common use is supposed to be sync between three blockchians: the two altcoins and the federative one.


For example, if you're a dogecoin user... you may be interested into trade just between bitcoin and dogecoin because bitcoin serves better (atm) as value storage move (widely supported).

p2p exchange is possible but need heavy nodes storing all blockchains involved

another market exchange freeze in cold out of there.
while I am totally supportive for services like Vircurex, and I truly hope things will get fixed in no time... it seems clear to me that "strictly centric" (so far i know, there's no p2p way to exchange altcoin with only their money value) thrown away a bit of it's natural spirit.
¢¢

No, it's an idea for an indipendent exchange platform in the same way bitcoin operates with it's own currency.

again, sorry if better idea options were already provided, no reason to label this as joke.

is this a joke?

Sorry if it was already suggested.

The idea it's basically like this: a new altcoin with wallet and all the stuff like bitcoin/altcoin... but own coins inside.

What these "altcoin" wallet are suppose to host it's the private key of another altcoin wallet.



let's suppose it generate this wallet:

wallet: 1TiTQQoaYR54bmrnYutydYVvvqQZdeuWm
pvtkey: 5HtfmE4iSjQ1aXtr3UtsAR3LPYzc2K7eeEnnZZvm26RXv3yMeAD

and we put about 1 bitcoin into this regular bitcoin wallet.

Then we now access to this idea "altcoin trade platform" (atp from now) network and put the privatekey.
The atp access to bitcoin network and confirm the ownship of this wallet and generate a new bitcoin andress... reversing all the bitcoins into a new bitcoin wallet

wallet: 1TaT3yEufiRsXmWmyVqEpAWVT9HAH9uMx
pvtkey: 5JwFqeR4KZtEMpEQw871Z2Uphi38NcHmN6fLnuRGqKGMGkpjyQM

But this time the new bitcoin "privatekey" is not directly available to the end user... so, basically the 1 bitcoin contained is to considered "stole" or "vanished" from regular bitcoin network.

If you wish, you can still move the bitcoin which are moved inside the 1TiT wallet... but the 1TaT wallet can be only used in the federate  "ATP".

Now, the 1bitcoin in 1TaT wallet can be used to be safetly trade with other altcoins



basically you got a privatekey of a afp wallet which control other wallet, but the privatekey of each "alien" wallet is never shown.. only used to "move" the altcoins value from a platform to another (wallet owner set their own tranding values)