Re: [ANN] B&C Exchange - A decentralized exchange paying BTC dividends
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By the way, I easily envision B&C Exchange be used as the first decentralized cloud wallet for any crypto assets and currencies.
Thus, people that have no interest in trading would have a reason to use B&C Exchange.
In other words, we could see 2 services:
1) Exchange
2) Wallet
Perhaps we could even think about charging for 2) as well.
By the way, I easily envision B&C Exchange be used as the first decentralized cloud wallet for any crypto assets and currencies.
Thus, people that have no interest in trading would have a reason to use B&C Exchange.
In other words, we could see 2 services:
1) Exchange
2) Wallet
Perhaps we could even think about charging for 2) as well.
I fully second your assessment about BCE offering a wallet service. I've written my take on this at another place (https://discuss.nubits.com/t/passed-motion-to-provide-seed-funding-for-b-c-exchange-a-decentralized-exchange-built-on-the-peershares-platform/2001/539):
Quote
Via BCE exchange web sites you effectively can create something similar to e.g. blockchain.info, but in an improved version:
Web access to BCE provides BCE with a kind of online wallet capabilities - similar to blockchain.info.
Transactions (e.g. withdraw) can be executed using a web site - similar to blockchain.info.
This requires coins to be available in a multi signature deposit address - assumably better security than at blockchain.info (does blockchain.info support multi signature addresses and if what level?).
You can execute payments with all coins supported by BCE by creating a withdraw (to the payment deposit address) on any BCE exchange web site - that's way more flexible than at blockchain.info which only supports BTC.
And if you don't have enough BTC, trade some of your deposited LTC or whatever first - that's way more flexible than at blockchain.info.
But the major benefit over central wallets is this:
there's no risk to get your funds seized by taking down a central service or stolen by that central service.
The central server as single point of failure is gone.
All relies on the (distributed) reputed signers which can't be tracked easily if ever.
Web access to BCE provides BCE with a kind of online wallet capabilities - similar to blockchain.info.
Transactions (e.g. withdraw) can be executed using a web site - similar to blockchain.info.
This requires coins to be available in a multi signature deposit address - assumably better security than at blockchain.info (does blockchain.info support multi signature addresses and if what level?).
You can execute payments with all coins supported by BCE by creating a withdraw (to the payment deposit address) on any BCE exchange web site - that's way more flexible than at blockchain.info which only supports BTC.
And if you don't have enough BTC, trade some of your deposited LTC or whatever first - that's way more flexible than at blockchain.info.
But the major benefit over central wallets is this:
there's no risk to get your funds seized by taking down a central service or stolen by that central service.
The central server as single point of failure is gone.
All relies on the (distributed) reputed signers which can't be tracked easily if ever.
For the wallet service there's a charge: all transactions that utilize the BCE network as a wallet service require transactions; they have a size and cost BKC
You said it all.
About the wallet charges, tks for reminding me. The business model is natural.