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BlockShare

Why we funded B&C Exchange

Blocks & Chains Decentralized Exchange is the first Decentralized & Distributed Exchange native to the Satoshi-based Blockchain, without the use of proxy assets.

"Unlike centralized exchange websites, exchange operators will have zero access to funds and zero responsibility for customer account information.

If an exchange website disappears suddenly, a user can simply go to another site that uses the same open source exchange software, or use another application that supports B&C Exchange and continue using
the same account without interruption.

There are no privileged nodes, although certain BlockShare (BKS) addresses will be assigned a reputation score by minters, and those with the best reputation will be chosen as deposit address signers.

A highly responsive reputation system combined with security deposits and a tolerance of up to 7 rogue reputed signers in the case the network is configured to use 8 of 15 multisig addresses means the chance of exchange default is exceedingly low."

B&C is a service that caters to all blockchains.

"In order to sign for foreign blockchain deposit addresses, a client must be connected to the foreign blockchain. One signer may choose to sign for Bitcoin deposit addresses, which means his client must be able to connect to a Bitcoin client. Another signer may choose to only sign Litecoin deposit addresses, which means his client must be able to connect to a Litecoin client.
People who just want to use exchange services don't need to have their B&C Exchange client connect to any foreign blockchain, such as Bitcoin or Litecoin.

A particular individual might choose to be a reputed signer for the Nu blockchain. To do so effectively, he will need to make sure his B&C Exchange client is always running and always able to connect to his Nu client. He will need to convince shareholders to upvote his reputed BlockShare signing address. This reputed address will be used to sign reputed signer deposit public key lists, or deposit key lists to be brief."

Also remarkable is the ability to resverse transactions and to act as escrow, in an extreme secure way.

"The B&C Exchange architecture is well suited to provide reversible or escrowed transactions on any supported blockchain. It can do this without any protocol changes on the blockchain in
question. Non-reversibility of transactions is desirable in some contexts, but has been identified as a serious flaw of Bitcoin and other cryptoassets in other contexts. A reversible payment could be made to a multisig deposit addresses.
"

 

"B&C Exchange will become the first decentralized stocks market place in the world.
Imagine the revolution.
On B&C Exchange, not only btc and other crypto-currencies will be traded but also any crypto-asset that is "Satoshi-based."
Crypto-shares that are based on peershares blueprint, included.
Not only can we imagine that nushares will be traded on b&c, but also its own shares, b&c shares, and any shares that belong to any DAOs.
The consequence of that is that b&c could spark a revolution in the IPO funding of any business.
A business that needs to raise funds will create its own peershares blockchain and then go IPO from day one and float its shares on b&c.
Also, as Jordan Lee envisions it, it seems natural that NuBits will be used to get in and out of the market...as a synthetic dollar as one uses the USD to buy google stocks and sell them back for dollars" -cryptog

 

 

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release   2015/09/02   gbboy