AURA - The Applications Book Based on Ethereum

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

Facebook: https://www.facebook.com/youstockplatform/

Telegram: https://t.me/joinchat/GtBmAQ1gTCoWr6Afu627nQ

Youstock: http://youstock.io/

Author: lothok
Bitcointalk Profil URL: https://bitcointalk.org/index.php?action=profile;u=1186246
ETH Address: 0x9f4Af3ED1de3CbC3233A9e43Fd13c13758a3a6bb