Quote from: Shenol on February 17, 2014, 06:56:54 PM

Is there any update about this project?

This specific project is currently on hold on our end --

A summary update of the past few months:

We reached the point of proof-of-concept w/ the decentralized nodes, meaning we had them successfully connecting w/ each other and communicating -- we used this version to pitch investors.

On the android side of things, 'the clients', it was also fairly progressed in development, but just short of successfully connecting up with the nodes due to some additional implementation necessary for them to find the nodes.

We ultimately had to put things on hold due to funding --

We'd been discussing the project with a number of investors, though none of these conversations moved past initial meetings specifically for the decentralized exchange platform, though they did progress in some other directions (that I'll mention towards the end of the post).
This was due to three things:
> Revenue Model (It's essentially impossible to directly monetize a truly decentralized network. We did have a revenue model defined that wouldn't compromise the integrity of the decentralized network, but the runway for this model was just too long)
> Legality - It's a gray area and most investors won't go near it.
> Understanding - Even if you simplify down the fundamentals of what we're doing, it's still hard for most VCs or even angels to understand the value of a fully decentralized network.

We had truly hoped to get sufficient donations from the community to keep this running up until the point of v1, but that just didn't happen.

This all leads into what we're working on currently --

We're now building a fully featured, yet easy to use Cryptocurrency arbitrage platform called Elqnt | Arbitrage. This will hopefully help fund continued development on the Elqnt Exchange.

The bitcointalk discussion for Elqnt | Arbitrage can be found here --> https://bitcointalk.org/index.php?topic=459528.0

We've also launched an indiegogo campaign to help fund the development of the arbitrage platform --> http://igg.me/at/elqnt

We truly do hope to get back to developing on the exchange node infrastructure, but paramount at this point is making sure we have personal funding solidified. Once that is in place, we'll be carving out time again to work on the exchange node infrastructure.