Re: Proof of ownership/holding - simple and reliable & used by all the "exchanges"
Can you describe something simple and reliable that exchanges and CF sites can implement and actually use?
Kind of related is the payment protocol being discussed for Bitcoin:
We need a payment protocol with non-repudiation built in.
See https://gist.github.com/2217885 for a multisig version (the singlesig version is simpler, but the merchant <-> customer communication will be the same).
See https://gist.github.com/2217885 for a multisig version (the singlesig version is simpler, but the merchant <-> customer communication will be the same).
Thank you for the tip. Multisign is a nice feature if more than one person must be in charge of the coin. I have waited for this feature close to a year now.
I am not sure, how can this help a contributor (C) to prove and receiver (P) to confirm, that the coin sent to project account, via third party (CFS), are actually from contributor. I need to read up on that a bit more.
Lets say someone with mental issues (criminal/scammer) wants to scam the shares from "P".
If "P" account address was public, he-she can find out the tx numbers and go from there.
Sure, I can ask him to prove it by moving coins but this will get tedious really fast.
What if CFS adds a random confirmation code to this picture?
1) Lets say "C" sends coin to CFS, gets a confirmation code generated by CFS and a md5 hash generated from code+tx ID.
2) "P" receives the md5 hash from CFS at the same time but has no confirmation number (this is good).
3) "C" can prove the transaction with that number because code+tx_id = correct md5 hash
4) "P" also had the tx ID from the time when "C"'s coin was moved to "intermediate" address Z.
Will this do the trick?