Post
Topic
Board Announcements (Altcoins)
Re: NXT :: descendant of Bitcoin - Updated Information
by
ChuckOne
on 19/02/2014, 16:34:57 UTC
Come-from-Beyond, how difficult would it be to add a feature to the asset exchange allowing accounts to trust other accounts for a certain asset up to a specific amount?  The system would have to be able to handle shifting debt balances.

Why not trusting the person himself?

If you want to help a person, lend him some money. If he is trustworthy, he will give it back to you.

If you trust someone's account, you are trusting him.  The reason why this should be implemented via code in the AE is so the debt transference is automatic which allows for real-time accounting.

Why not implementing a smart contract for that?

In more tangible words: a specialized decentralized notary as I described it here: https://bitcointalk.org/index.php?topic=458036.msg5211090#msg5211090

That notary handles the low-level transaction stuff whereas the people can loan NXTs and other assets to somebody. As far as I can see, it's not a part of the core but a use-case implemented on top of AE and AT.