Decentralized Exchange
I’ve spent some time looking into cross chain atomic swaps,
a process that would enable trading Aura for Ether (or any other coin) directly
without needing to use an exchange. The technology and code is available. The
remaining challenge is to create a nice GUI that makes the process seemless for
end users.
There are currently two leading projects that I’m aware of,
the komodo effort with BarterDEX, and altcoin.io. BarterDEX has ZCash <->
bitcoin working (and their related altcoins), and altcoin.io has Ethereum
<-> bitcoin working (and their related altcoins). Pretty soon they will
both support all types of coins I’m sure.
I’ll be following these developments closely and hope to
have Aura <-> Ether atomic swaps ready for YouStock, with more coins
added later.
What is Aura?
Aura is a cryptocurrency and general purpose
blockchain application ledger based on ethereum. Developers can deploy smart
contracts and decentralized apps (dApps) to the Aura blockchain. Lowercase
'aura' refers to the unit of cryptocurrency on the platform that can be
transfered between wallets, is used to pay transaction fees and gas for
smartcontracts.
HOW IT WORKS?
Aura is the main unit of cryptocurrency and fuel for smart contracts. Faster and cheaper than others, Using parallel blockchain has the advantage of lower cost and less traffic than if run on ethereum mainnet. User shares are implemented as ERC20 tokens on blockgain Aura.
What is a decentralized exchange?
A decentralized exchange is a digital asset exchange that
operates solely based on the blockchain protocol and does not rely on any third
parties to facilitate trading. It allows you to trade with other people online
directly, with no intermediaries.
YouStock
beta
With Aura’s
core services wrapping up, I’ve started working on the YouStock platform. It’s
going to be built on a MEAN stack (MongoDB, ExpressJS, AngularJS, NodeJS).
Here’s a sneak preview of what the home page might look like. The account
system is going to be somewhat of a hybrid where users can choose to either
host their wallets on our servers and use a normal username and password to
access their account like everyone is already used to, or users can BYOW (bring
your own wallet) where you remain in control of your private keys. The plan is
to support as many wallets as possible: Ledger, Trezor, MetaMask, keystore,
mneumonic phrase, etc.
YouStock is a new platform where anyone can create a digital
asset that represent themself and trade with anyone else.
Why would anyone want to do this? There are many reasons but
ultimately it's up to you. Here are some ways people might use the platform.
- Sports
Prominent athletes could create a stock and let their fans
trade them. The value of the stock may fluctuate based on the athlete's
performance or their stardom, market forces will determine that. Buying stock
in a young promising athlete could be very lucrative for fans and traders
alike. Income from an initial offering could help offset the notoriously low
pay college athletes receive these days, while simultaneously giving fans a new
way to interact with their favorite sports teams and players.
- Artists
Famous celebrities could create a stock for their fans to
trade. Fans that want to support their favorite actor or musician can buy their
stock. If you discover a young upcoming artist that you know will go on to be
big, buy their stock, which simultaneously supports them and also gives you a
chance to share in their future success.
- Employees
Top talent could tokenize themself and offer to work for
their largest shareholder in addition to a fixed salary. This would force top
companies to bid on the best employees. This has the added effect of aligning
the employer's interests with that of the employee's, they both now have a
financial interest in the employee to grow and be more successful. If an
employee outgrows their position and another company wants to acquire them,
they have to buy out the former employer's position.
- The sky's the limit
This is just a sample of the ways people might use this
platform. We're excited to see what new and unique concepts people will come up
with for using their tokenized selfhood. People are awesome.
ROAD MAP AURA
SEPTEMBER 2017
idea
early preliminary design work, research, experiments
DECEMBER 2017
Laying the foundation
Ethnic forks, aura installations, websites
2018
JANUARY 2018
AURA
Launches the main Aura network
FEBRUARY 2018 Wallet
service Aura
, researchers, mountain pools, stock exchanges
Q2 2018
YouStock Alpha
Early versions of web portals and decentralized exchanges
Q3 2018
YouStock Beta Version
Start beta testing and get special responses
Q4 2018
YouStock 1.0
Running the final product
2019
For more information:
Website: http://www.youstock.io
ANN Thread: https://bitcointalk.org/index.php?topic=2818598
Wallet: https://wallet.auraledger.com/
Twitter: https://twitter.com/youstockproject
Youstock: http://youstock.io/
Author:
lothok
Bitcointalk Profil URL: https://bitcointalk.org/index.php?action=profile;u=1186246
ETH Address: 0x9f4Af3ED1de3CbC3233A9e43Fd13c13758a3a6bb
Bitcointalk Profil URL: https://bitcointalk.org/index.php?action=profile;u=1186246
ETH Address: 0x9f4Af3ED1de3CbC3233A9e43Fd13c13758a3a6bb
