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I only have a vague memory/understanding the subject, but I believe the Bitcoin protocol supports the concept of multi-signature contracts. That could be used t
by wlphoenix 13y ago
I only have a vague memory/understanding the subject, but I believe the Bitcoin protocol supports the concept of multi-signature contracts. That could be used to create decentralized escrow/trading/exchanges, which means that you would never have to let a single entity control your private keys. (https://en.bitcoin.it/wiki/Contracts https://en.bitcoin.it/wiki/Contracts)
I don't think there is a working implementation of the multisig contracts in the wild yet, but the protocol does support a way to solve these problems.
- gnaritas 13y agoThat won't work for traders, transactions on the blockchain are too slow to do what exchanges really do. Traders would not use such an exchange, it'd be too slow.