LISTEN TO THE PODCAST:
Decred and the State Of The Market is brought to you by @Exitus and @DecredSociety and aims to look at current social, economic, and crypto news and how it relates to Decred. This time we are joined by DCRDEX and Tiny Wallet 2 developer buck54321.
LIVE STREAM AGENDA:
In this show, we’re talking Tiny Wallet 2, Decred's Lightning Network, Lightning Chat and DEX integration. And we’ll be exploring Decred’s future as it evolves and creates an array of off-chain web3 experiences.
Buck is one of Decred’s pioneering figures whose posts always gain a lot of interest due to the innovative ideas and projects he’s working on. To start, it would be great to hear a little about his background and what he's currently working on for Decred?
One of your latest posts, highlights that it’s now possible to bring the Lightning Network to the TinyWallet project. The first point I’d like to talk about is, what’s Lightning Chat? And what are the possibilities for this system?
When you say “a system for arbitrary messaging between nodes”, is each connected wallet considered a node, and if so, does this allow for direct wallet to wallet connection?
You also highlighted that chat is just one example, and that "keysend" is capable of also carrying arbitrary data. Can you elaborate on this and other possible examples?
Another point that was made is that, TinyWallet2 is a web app, which is an improvement over widget-based UIs. Could you explain the advantages and disadvantages and what this could mean for future progress?
Web 3, Decred-style! TinyWallet2’s “browser extension communicates with a local TinyWallet 2 instance API via websockets.” And can also interact with web page content. How does this work and what kinds of content could it interact with?
A big thing in Web3 currently is SoulBoundID, which gives every user a fixed ID to build their lifetime reputation. One thing you mentioned in your article was “lightning public key identity and alias”. Could you explain this, and could it be used similarly, benefits and drawbacks?
Another interesting point you made was, “Chat channels might be a great way to bootstrap the lightning network”. In my opinion, these could really jumpstart Decred’s Lightning Network. Would you mind extending on the possibilities?
Final question from me. How is DCRDEX development going and what can we expect to see next?
@MrTurnip_Head - I'd like to know how Decred fits in with Web3. Will the DCRDEX somehow tie in with that? I have a hard time imagining how the two would work together, unless Decred is doing some kind of side-chain thing for people to store data on.
@longtermdaily - What’s the status on the DCRDEX name change?
@h3la1 - Is there any solution that could work in the dex for adding a fiat ramp?
@changjieyang - Does he think #Decred DEX needs additional funding to promote its value proposition and awareness?
Follow up question by @MadScrilla1 - Is there enough funding to swiftly code up pairs on our dime & enough interest to add innovative products beside spot?
@DPOKE_ - Would Lightning implantation on the DEX lead to quicker trade times?
@DCR_Uncle - Is Tor essential to network sovereignty? What are other services that’s similarly meshed to our future meshed dex? and what incentives are needed to keep the dex maximally decentralized?