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Tasklist

This is a rough outline of what needs to happen for marketcoin to happen.

Most of this is in reference to modifying Bitcoin-QT / bitcoind. Libbitcoin is an option but I'm less familiar with it. I imagine most of this can be translated into tasks on libbitcoin easily

These aren't in any particular order, except sometimes. They should be obvious when they are.

Implement new block types

  • Create DBlock, with code copy pasted from CBlock* stuff. CBlock will be used to read Bitcoin blocks for payment verification (has to read Bitcoin blocks to 'catch up' with Bitcoin currently)
  • Implement the currency pair idea; add/change:
    • prevblock is now a vector
    • parentchain indicates the parent chain via some id, maybe UUID - can't deal with permanent chainforks

Implement merged mining

Will require modified copies of bitcoin to add MM support

  • No real plan yet, look into p2pool's merged mining
  • Based on Namecoin/p2pool style, hold hashes in merkle trees of parent blockchain

Support for altchains like Namecoin should be added as early as possible because it is almost certain that more Bitcoin+Altcoin situations will arise. Bitcoin+Altcoin+Altcoin2 should also be possible without Altcoin and Altcoin2 knowing about eachother.

Marketcoin must latch on so mining the Bitcoin market, Namecoin market, etc are all possible simultaneously.

Develop new Merged mining standard to allow this

Implement merged mining with Bitcoin

Implement merged mining with Bitcoin + Altcoin (like Namecoin)

Implement merged mining with Litecoin

Add script support

Port bitcoin MM code to litecoin

Implement multiple chain types (btcmkc, ltcmkc, etc)

Add in support for multi-merged mining, where each block is merged mined from any possible parent chain

  • Blocks should link to highest last known blocks (possibly 1 or more) and link to the last block in the currency pair.

Implement order transaction types

  • Maybe do it like namecoin? something like OP_TRADE <currpair> <rate>
  • Need a different transaction type for bid/ask
  • Maybe:
    • Sell MKC: OP_ASK <currpair> <min rate>
    • Buy MKC: OP_BID <currpair> <rate> <amount>
  • Then, Fulfil trade (only for buyer - fulfils the ask):
    • ScriptSig <bidId> <txid-payment> <blockhash> <merklepath> OP_REDEEM
    • <blockhash> is the block hash of the block which includes the payment on the alt chain
    • <bidId> is needed to relieve ambiguity as to which part of the Ask you're fulfilling (as one ask can fill more than one bid and vice versa)
    • <merklepath> is the path needed to verify the txid is in the altchain block

Implement redemption of orders - claim MKC

Implement trading algorithm