when i was brought back to this list i got on bitcoin-dev while telling partial falsehoods against my preference in public there were some interesting posts recently this paper share was followed up by another post on frontrunning resistance ---------- Forwarded message ---------- Date: Thu, 13 Apr 2023 15:10:01 +0100 Subject: [bitcoin-dev] Civ Kit: A Peer-to-Peer Electronic Market System To: Bitcoin Protocol Discussion Hi list, We have been working since a while with Nicholas Gregory (Commerce Block), Ray Youssef (the Built With Bitcoin foundation) and few others on a new peer-to-peer market system to enable censorship-resistant and permissionless global trading in all parts of the world. While the design aims in priority to serve on-ramp/off-ramp trading, it can be extended to support any kind of trading: goods, services, bitcoin financial derivatives like discreet log contracts. The design combines the Nostr architecture of simple relays announcing trade orders to their clients with Lightning onion routing infrastructure, therefore granting high-level of confidentiality to the market participants. The market boards are Nostr relays with a Lightning gateway, each operating autonomously and in competition. The market boards can be runned as a federation however there is no "decentralized orderbook" logged into the blockchain. The trades are escrowed under Bitcoin Script contracts, relying on moderations and know your peer oracles for adjudication. The scoring of trades, counterparties and services operators should be enabled by the introduction of a Web-of-Stakes, assembled from previous ideas [0]. From the Bitcoin UTXO set servicing as a trustless source of truth, an economic weight can be assigned to each market entity. This reputation paradigm could be composed with state-of-the-art Web-of-Trust techniques like decentralized identifiers [1]. A consistent incentive framework for service operators is proposed by the intermediary of privacy-preserving credentials backed by Bitcoin payments, following the lineaments of IETF's Privacy Pass [2]. Services operators like market boards and oracles are incentivized to thrive for efficiency, akin to routing hops on Lightning and miners on the base layer. The whitepaper goes deep in the architecture of the system [3] (Thanks to the peer reviewers!). We'll gradually release code and modules, extensively building on top of the Lightning Dev Kit [4] and Nostr libraries. All according to the best Bitcoin open-source and decentralized standards established by Bitcoin Core and we're looking forward to collaborating with everyone in the community to standardize libraries and guarantee interoperability between clients with long-term thinking. Feedback is very welcome! Cheers, Nick, Ray and Antoine [0] https://lists.linuxfoundation.org/pipermail/lightning-dev/2020-November/0028... [1] https://www.w3.org/TR/2022/REC-did-core-20220719/ [2] https://privacypass.github.io [3] https://github.com/civkit/paper/blob/main/civ_kit_paper.pdf [4] https://lightningdevkit.org