Quote from: Brokkr on November 17, 2024, 12:28:11 PM

Howdy all,

We're still plugging away, and have developed polygon webmarkets, an AI moderation service for items, an exchange that allows for the decentralized, high-frequency trading of Bitcoin and other UTCO coins, and we're getting ready to release a hardfork that will move coins back and forth across a bridge from our mainnet to Polygon. We'll keep you all updated as we get into marketing mode. Keep the faith!

The bridge also supports moving coins to other networks such as Solana and 2nd layer ETH(because ETH would be too expensive to run a watered down peg). But in the beginning Polygon seemed the best. Solana I never was fond of the inability to deterministically decompile contracts making it easier to close source.

With that said the web marketplace for commercial markets supports currently Polygon, DAI and of course can add WETH and others. Those can be found here:
https://app.bitbay.market

The community will let people know when it's time to update QT and Halo for any fork. Should be this year if tests continue to go well. Also the bridge needs a full audit and theres a small list of things I want fix with it anyways. And apologies for the several year hiatus and I know people have waited a long time for the project to be marketable again. Basically we had great success in 2017-18 with a 4000x increase from the lowest point with millions in daily volume. Then altcoin industry went bust a few years. Then major exchanges delisted because they were too lazy to make custom code for the peg. Then 3/4 of the exchanges we paid listing fees to stole our listing fee outright and vanished. The last exchange was Latoken who after a year of stalling followed our instructions. Then we got screwed by Latoken who stole users BitBay after they closed markets with a half-hearted attempt to adopt the peg(which I think only one of their devs pushed for and it worked for a while although they selectively messed with us). When the peg was actively trading there it worked to keep the price that the community and algorithm set so it proved the point that its sound in theory. Especially considering the low volume to keep the price was notable. But the community was reimbursed using my personal BAY which will be restored after the fork(we airdropped before to get it out of the way).

And finally, as Yshurik agreed to do QT work he was busy for a year on an exchange he was coding and I was also busy with just life in general. Finally he had time and that was this year mostly working on the c++ side of the code which the theory was demonstrated behind BitBay bridge in Python in the Halo wallet tests years ago that I wrote. And the Solidity code as you all know was working for a few years(bridge testnet). Lastly this year those web markets were developed. The entire system of double deposit runs autonomously powered by the users themselves without any governance so it's ultra secure. There was also two audits done on it we encourage more. Then there was the goal of making sure users self filter using AI. It's a great model for any internet service really since the rule of thumb is small businesses and forums aren't responsible for what users post. Yet if they could self-filter it takes away the moderation overhead and keeps markets on top for commercial goods and services.

This was actually another innovative tool made in the BitBay community since anyone can run an AI node so you could consider it decentralized AI moderation services and the rate limits are checked against active users public encryption key in the markets themselves which is a fantastic model for keeping bots off the system. The node works with a purely front end javascript architecture(no servers) as the nodes themselves use a simple tunnel with turnkey servers(like ngrok) so they dont necessarily have to pay for a membership to ngrok if the volume of transactions and requests is low. They could run their own AI models(like Molmo) in lieu of API keys to sightengine or Pinata(IPFS). But I feel if they do that, they should battle test the moderation capabilities to make sure there is no mistakes and prompts are correct.

And of course everyone have a happy holidays. The community will post any updates as they come. I'm just rooting for BitBay from the crowd. Finally hopefully the bird learns to fly with it's own wings with less dependence on the community directly. It certainly has all the tools for it.

dzimbeck

Posts

Merits