Qortal Project

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the_trade_portal_-_info

The Trade Portal Overview

The Trade Portal, was initially the main service for the Qortal blockchain.

The Trade Portal is a COMPLETELY DECENTRALIZED peer-to-peer (p2p) trade platform, built inside the Qortal User Interface.

Initially, the platform will launch without the Trade Portal. The initial launch will be to ensure the network is large and strong, prior to adding any of the other services into the system.

After the initial launch (alpha), the beta launch will include the Trade Portal UI.

The Portal is a system that makes use of the ACCT system by the CIYAM developers (http://ciyam.org) with which to make completely cross-chain coin/token trades.

Initially, support for only BTC will be involved. There will be BTC/QORT markets only. Native BTC support in Qortal allows users to store BTC in their Qortal UI wallet, just as they would in a BTC local wallet. Without the need for installation of a BTC wallet itself.

The system allows for completely cross-chain trades between BTC and QORT.

Users NEVER RELINQUISH CONTROL OF THEIR COINS/TOKENS. Never have to 'deposit' assets in order to make trades. This allows for COMPLETE SECURITY. Never again, will there be worry about centralized exchanges failing, and taking with that failure, users' assets.

As time goes on, and development progresses, support for other coins/tokens will be implemented into the system. Votes in the system will be the primary factor as far as which new coins/tokens will be added, however, a vote is not a guarantee of listing, there will also be an independent verification done on the project pre-listing, to ensure only the most quality projects are listed in the Trade Portal.

Trade Portal Details

Functionality

The Trade portal functions by making use of an automation system that creates and executes placement of ATs on behalf of the private key of a 'logged in' account.

The account's 'bot' (for lack of a better term) takes the trade data from the user, and issues a SmartContract (AT, ACCT AT to be exact) that then awaits input from another user, then picks up on behalf of both users, to execute a Cross-Chain trade.

All that is necessary for the user, is leaving their core running.

Important note: If you wipe your database then you will lose access to any funds tied up in trades (QORT or BTC). For pretty much the same reason as if you wiped your Bitcoin wallet DB.

below is an infographic with the steps of the trade portal easily understandable cross-chain trade explanation.

crowetic 2020/08/14 01:55

the_trade_portal_-_info.txt · Last modified: 2020/09/25 20:11 by crowetic