Hello guys, I have been giving most my updates on Slack because thats where most of the core team has been spending their time. One member(metakid) wrote an amazing bot for chatting and other things. Also he helped with marketing organization and promos and connected us to the new Qt wallet which is looking very nice. We will be setting up some permanent nodes so that staking will always have connections.
As for me, I'm working now daily on markets. Today, I made the moderation and trust building system. So you can receive a rating, flag orders, leave reviews, etc. Everything in the decentralized server works like Bitcoin. I hash the orders and verify them with your public key which represents your account. There are two moderation keys as well for advanced moderation. Although it is decentralized and there is no central server. However, the peers keep a memory of what is going on and what they see and validate is what they will remember.
So far its really cool its like the "email of Bitcoin" since each message is verified and I could add so many layers to it. I've even seen some interesting ideas on i2p with Bitmessage. I'm tempted to change more of it but for now we need the support of all the nodes. Blackcoin has prepared to add checklocktimeverify and we have also added it and will prepare to fork a little bit later with pegging. The markets already work. I can add nodes to make Bitmessage faster but I'm not going to do that for beta testing. Instead, we just have a local data directory which was a common Bitmessage request that I've taken the initiative to fulfill. I'm still debating with myself to add more nodes or not.
The whitelisting system will be much more effective once we have nodes with great reputations. So I'm starting with the most basic.
I've tested posting orders to the markets and I can easily add and remove orders or markets. Now I am designing the whole UI and templates. That is the most complex part since each template will auto-execute or greatly assist you. I've got to decide how much customization I want with it before debuting the markets. Its possible I will give some updates with screenshots in the near future.
But is that all for BitBay coin, or is it gonna be added to BlackCoin too? I invested some but sold after I saw that BitBay wont be the only coin with markets. Please tell us your work is just for BitBay so us buyers know what to buy. thanx.
There are some very big differences between BlackHalo and BitBay. Personally, I think both are very good. BlackHalo has microtrading with NightTrader when the markets debut but Bitbay will have pegging/hedging. So they both have markets but are very different. One is more focused on trading, the other on economy.
Personally the hedging in BitBay is very exciting to me and I think its the main reason to buy this coin especially now when its so cheap. Since it will be consensus driven deflation and inflation so the price will be able to grow with the demand. Once we add pegging, i think every coin will want it. In theory, it is a very powerful set of rules.
