We can easily get rid of all the exchanges now and trade freely between ourselves

in #cryptocurrency6 years ago (edited)

A blockchain project without an #escrow layer is like when they opened a new IMAX cinema downtown, but you have to use a horse carriage to get there.

All we need to break free from the criminal exchanges is just an additional layer - Escrow layer - easily available for any blockchain - something like TCP/IP has been to Internet.

We need a PROTOCOL, not an another app, not another token.

Simple, Decentralized Escrow protocol option and it will turn ANY coin to a market place in itself - able to swap values between them. No banks needed. No exchanges needed. No Wallstreet is need - we can swap WHATEVER with WHOEVER as peer-to-peer... once we have a Escrow layer/protocol embedded in a crypto project

Now, if you run escrow on your coin, then this escrow is as decentralized (meaning: attractive to other players) as your coin is. Here is your incentive to develop your coin/project further.
If you run escrow on your coin, then your nodes are the ones who get the fees - not the criminals at ShitFinex. Here's the incentive for your nodes to grow in numbers - Done.
So, what are we waiting for?!

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Imagine if all the wallets of every coin had one more button - an "Escrow" button, which would be as natural to any wallet as the "Send" button now.
If every single coin can safely swap values between addresses in a trustless system, why don't we use the same mechanism to safely escrow the values in a trustless system to meet the conditions of the swap?