Author: ZmnSCPxj 2019-09-18 04:41:15
Published on: 2019-09-18T04:41:15+00:00
The Defiads network has been implemented in Rust and built on top of rust-bitcoin, murmel, hammersbald, rust-bitcoinconsenus and rust-wallet. The peer-to-peer network is designed to distribute textual ads, order books, coinjoin proposals and more. The network-wide shared 1GB memory pool of current ads is maintained by every defiads node, which are replicated to other nodes for as long as some Bitcoin is locked to it on the Bitcoin network. Ads are evicted from the pool as soon as the coins locked to it are spendable again. Defiads ranks advertisements by the ratio of used space divided by Bitcoins locked and will only replicate the top 1GB of this ranked list. Anyone can read the ads by starting a defiads process of their own and querying the content through its JSON-RPC API. To place ads, users must deposit some Bitcoins into their Defiads node's wallet, prepare an ad providing its category, abstract, and content, fund the ad by locking some of the Bitcoins to it for a limited term of advertisement, and withdraw their coins from the Defiads node's wallet after the advertisement expires. Defiads connects to both the Bitcoin network and its own peer-to-peer network, and no need to run a Bitcoin node as Defiads only needs a small fraction of the information on the Bitcoin blockchain and retrieves that on its own as an SPV node. Additionally, Defiads' wallet is compatible with TREZOR, Ledger, Greenwallet, and many other wallets that support BIP38, BIP44, BIP48, BIP84 key generation and use standards. There is no discovery for the network yet, so users have to know some peer in the network to see other than their own ads, but they may write a direct email if they want to connect to Tamas Blummer's node. Defiads is still in its early stages and should not be used with real Bitcoins yet, therefore by default, it connects to the Bitcoin test network. Future development may see people competing for the use of the 1GB pool and others who do not have enough Bitcoins to lock paying others to lock theirs to fund an advertisement.
Updated on: 2023-06-13T21:20:05.675245+00:00