Safecoin doesn’t need to escape the boundary of the network to do a transfer anymore than cloth money needs to enter the wire when sending them to another bank.
SEC is to be a structured data asset with a programmed wallet, and programmed rules. For now we keep it embedded in bitcoin until SD is stable on Live SAFE.
SD atomic transactions are a requirement, that is the decentralized part of it. We may seek to add a ‘notary’ signing component to SAFE so that we can have the groups confirm that Alice signed this, ‘notary’ signs acknowledging Alice signed this transaction. Now Bob can sign the other side of the transaction, ‘notary’ acknowledges Bob’s signature, transaction happens. More details to come; assuming we are not also able to finish a different system that achieves the same power of atomicity. We will not pursue arbitrators except for those systems of trading desiring arbitrators.
FIX part of it will work when two parties want to do accounting between each other, or a trading group or for a system of atomic trading involving careful revealing of secrets.
Making a simple SD asset and dividing it, and sending it - trying to test that asap, hopefully soon when the test network is back up.
Today we’ve connected an alpha version of Rust into Electron using a tool called Neon. So application logic is on the plate. It is awesome, I am coding Rust and it goes right into an Electron GUI in a simple way.
Regards to the symbol, we will need to allow the client application to interpret most symbols people choose.
For now you set the symbol using regular characters, and we use SC as the abbreviation for the safecoin placeholder.
When you trade, the first offer is what set the Paired Symbol of a currency trade.
SO if the first trade to happen was BTC/SC that’s what it is. if it turned out to be SC/BTC then all trade offers should resolve to that symbol.[quote=“chrisfostertv, post:75, topic:6510”]
we treating Safecoin as a supranational currency.
Safecoin should be ‘baked’ into safex as the default ‘reserve’ currency that’s what I am leaning towards