Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW

Why couldn't there be a DRK/BTC decentralized exchange? Use the masternodes to host the portal of buys and sells (when an offer is agreed on, the ad is removed from the portal), when someone wants to buy/sell, each respective party puts up their side of the coins to the masternode network, once both send their end of the deal, the masternodes exchange to the other party. In the event one party backs out, the masternode sends it back to the original party. The portal would show up in each client wallet under an exchange tab.

To be truly DRK, you'd need a trustless way for a masternode to hold bitcoin. Maybe masternodes taking part in it could have their server do bitcoin walletty things to receive and send a limited amount of bitcoin, up to a total amount that the bitcoin sellers would be happy for the masternode's 1000DRK to act as collateral...

But they don't need to hold the actual coins in the same way they don't hold actual drk... because that's dangerous.

They shouldn't and don't currently "hold" anything as I understand it.

Swap keys not coins

I guess each MN runs bitcoin and darkcoin daemons, processing multisig transactions on behalf of the buyers/sellers. Put a time expiry like 15 minutes on the transactions to cancel them if the counterparty does not comply. But then you have masternodes signing bitcoin and darkcoin transactions, I think this opens up a new world of security risks.

It's centralized, but I'm going to check more into shapeshift.io see if this is a service darkcoin could leverage to pay wherever bitcoin payments are accepted. No account required but would like to know their logging and retention policies.
http://www.reddit.com/r/BitcoinMarkets/comments/2ch83w/shapeshiftio_instant_bitcoinlitecoin_conversion/

You might wanna check this one too : https://holytransaction.com/
(found it here : https://www.darkcoin.io/getstarted.html)