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Subject: Re: [bitcoin-dev] Introcing a side memory network to bitcoin for ads
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Good morning list,
In case it is not obvious how this mechanism can be used, let me give me so=
me short discussion.
Many decentralized coin-mixing services require some concept of "maker", wh=
ich serves as a temporary centralization in order to allow clients of the m=
ixing service to find each other.
Such makers might advertise themselves, backing their advertisements with l=
ocked coins.
The text of the advertisement may very well be a machine-readable descripti=
on, such as JSON, including information about the maker in the coin-mixing =
service.
Escrow services for decentralized real-good-to-digital-good marketplaces (e=
.g. decentralized exchanges) might advertise themselves over this mechanism=
also.
The actual advertising of marketplace offers might also be done via this me=
chanism.
Again, machine-readable descriptions might be transported over the advertis=
ement text mechanism, in order to allow programs to present the "most natur=
al" interface to end-users.
Regards,
ZmnSCPxj
> Good morning Tamas,
>
> Thank you for taking the time to implement my idea.
>
> I filed an issue proposing a feature to add a "contact point" fixed-lengt=
h field to all advertisements.
> https://github.com/defiads/defiads/issues/1
> I believe this gives me the right to say: First post.
>
> I will try to take a look at building some kind of UI at some point in th=
e next few months or years.
>
> Regards,
> ZmnSCPxj
>
> Sent with ProtonMail Secure Email.
>
> =E2=80=90=E2=80=90=E2=80=90=E2=80=90=E2=80=90=E2=80=90=E2=80=90 Original =
Message =E2=80=90=E2=80=90=E2=80=90=E2=80=90=E2=80=90=E2=80=90=E2=80=90
> On Tuesday, September 17, 2019 8:04 AM, Tamas Blummer via bitcoin-dev bit=
coin-dev@lists.linuxfoundation.org wrote:
>
> > I introduced you to the pattern of a side memory to bitcoin in [1] and
> > promised an implementation of it.
> > Here you are.
> > defiads is a side memory network to bitcoin, implemented in Rust, built
> > on top of rust-bitcoin, murmel, hammersbald, rust-bitcoinconsenus,
> > rust-wallet, all Rust open source free to grab at
> > https://github.com/defiads/defiads
> > defiads builds a peer-to-peer network to distribute textual ads, as
> > first suggested by ZmnSCPxj[4]. I hope that it will serve
> > decentralized finance applications with an infrastructure to distribute
> > ads, order books, coinjoin proposals etc.
> > Every defiads node maintains a copy of a network-wide shared 1GB memory
> > pool of current ads.
> > An ad is replicated to other nodes as long as there is some bitcoin
> > locked to it on the bitcoin network. Locking means someone transferred
> > some sats to an address that is associated with the ad using the
> > pay-to-contract protocol[2]. The address does not release the bitcoins
> > until a predefined time span that is the duration of the advertizement,
> > this is accomplished with OP_CSV. The ad will be evicted from the pool
> > as soon as the coins locked to it are spendable again.
> > defiads ranks advertizements by the ratio of used space divided by
> > bitcoins locked and will only replicate the top 1GB of this ranked list=
.
> > You may read the ads by starting a defiads process of your own and
> > the query the content through its JSON-RPC API.
> > You may place ads by performing the following steps, with its JSON-RPC =
API
> >
> > 1. deposit some bitcoins into your defiads node's wallet
> >
> > 2. prepare an ad, providing its category, abstract and content
> >
> > 3. fund the ad by locking some of the bitcoins to it for a limited ter=
m
> > of the advertizement
> >
> > 4. you may withdraw your coins from the defiads node's wallet after th=
e
> > advertizement expires
> > defiads handles the association with ads, locking and unlocking coi=
ns.
> > Implementation notes
> > defiads connects to both the bitcoin and its own peer-to-peer netwo=
rk.
> > You do not need to run a bitcoin node as defiads=C2=A0 only needs a=
small
> > fraction of the information on the bictoin blockchain and retrieves=
that
> > on its own, as an SPV node.
> > The defiads node's wallet is compatibe with that of TREZOR, Ledger,
> > Greenwallet and many other wallets that support BIP38, BIP44, BIP48=
,
> > BIP84 key generation and use standards.
> > defiads uses Invertible Bloom Lookup Tables[3] to synchronize the a=
ds
> > pool with its peers.
> > Status
> > It seems to work, but you should not yet use with real bitcoins,
> > therefore by default it connects the bitcoin's test network.
> > There is no discovery for the network yet, so you will have to know=
some
> > peer in the network to see other than your own ads. Write me a dire=
ct
> > email if you'd like to connect to my node.
> > Future developent
> > Should the use become popular then 1GB pool become tight, then peop=
le
> > will have to compete for its use. Some might not have enough bitcoi=
n's
> > to lock and might therefore pay others to lock theirs to fund an
> > advertizement. defiads network could match both sides and thereby g=
ive
> > rise to bitcoin's first truly risk less interest rate market.
> > defiads is currently downloading, but not storing,
> > the blocks after its birth date. This will no longer be needed once
> > BIP158 filters are served and committed by Bitcoin Core.
> > I hope that someone builds a nice UI on top of the JSON RPC as that=
is
> > not my area of expertise.
> > Tamas Blummer
> > [1] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2019-Au=
gust/017264.html
> > [2] https://arxiv.org/pdf/1212.3257.pdf
> > [3] https://arxiv.org/pdf/1101.2245.pdf
> > [4] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2019-Ju=
ly/017083.html
> >
> >
> > bitcoin-dev mailing list
> > bitcoin-dev@lists.linuxfoundation.org
> > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
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