Difference between revisions of "About"

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m (Video Walkthrough: added bold to IRC)
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* User accounts are '''pseudonymous'''. '''A user account is a public key'''. (This is like [http://pktp.co.cc/ PKTP] by Andrew McMeikan.) You can open as many user accounts as you want. ''Full anonymity'' is possible only for "cash-only" transactions (where users only perform token exchanges, and do not open accounts), whereas ''pseudonymity'' means that transactions can be linked to the key that signed them. (While the real life identity of the owner is hidden, continuity of reputation becomes possible.) ''See full-color diagrams linked above''.
 
* User accounts are '''pseudonymous'''. '''A user account is a public key'''. (This is like [http://pktp.co.cc/ PKTP] by Andrew McMeikan.) You can open as many user accounts as you want. ''Full anonymity'' is possible only for "cash-only" transactions (where users only perform token exchanges, and do not open accounts), whereas ''pseudonymity'' means that transactions can be linked to the key that signed them. (While the real life identity of the owner is hidden, continuity of reputation becomes possible.) ''See full-color diagrams linked above''.
 
* '''Any user can issue new digital currencies''' and digital asset types, by uploading the new [currency contract] to the server. (This functionality is comparable to [http://www.systemics.com/docs/sox/overview.html Ricardo] by [http://financialcryptography.com/ Ian Grigg].)
 
* '''Any user can issue new digital currencies''' and digital asset types, by uploading the new [currency contract] to the server. (This functionality is comparable to [http://www.systemics.com/docs/sox/overview.html Ricardo] by [http://financialcryptography.com/ Ian Grigg].)
* '''Users can open asset accounts of any type.''' You can have as many as you want, associated with each user account. (See [http://loom.cc/ Loom] by Patrick Chkeroff.)
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* '''Users can open asset accounts of any type.''' You can have as many as you want, associated with each user account. (See [http://loom.cc/ Loom] by Patrick Chkoreff.)
 
* [[Triple-Signed Receipts|Triple Signed Receipts / No Account History]]. On OT, entities are able to conduct transactions, verify instruments, ''and'' provably agree on current holdings via ''signed receipts'', all without the need to store any transaction history.'' An ''asset account'' on OT is not according to the traditional sense of the word (an account normally being thought of as, "a list of transactions, with a balance, used in double-entry bookkeeping.") While the word "account" makes things easy to understand, an ''asset account'' on OT exists only in the mind of the account holder himself. He simply asks the server to agree with him that it exists, and to provide him with a signed receipt to that effect. In the user interface, OT is able to mimic the ''account metaphor'', making usage intuitive, even though ''no actual account exists, or need be stored on either side, other than the signed receipt itself!'' (See Bill St. Clair's excellent [http://truledger.com/ Truledger] for an [http://truledger.com/doc/plain-english.html example of this concept].)
 
* [[Triple-Signed Receipts|Triple Signed Receipts / No Account History]]. On OT, entities are able to conduct transactions, verify instruments, ''and'' provably agree on current holdings via ''signed receipts'', all without the need to store any transaction history.'' An ''asset account'' on OT is not according to the traditional sense of the word (an account normally being thought of as, "a list of transactions, with a balance, used in double-entry bookkeeping.") While the word "account" makes things easy to understand, an ''asset account'' on OT exists only in the mind of the account holder himself. He simply asks the server to agree with him that it exists, and to provide him with a signed receipt to that effect. In the user interface, OT is able to mimic the ''account metaphor'', making usage intuitive, even though ''no actual account exists, or need be stored on either side, other than the signed receipt itself!'' (See Bill St. Clair's excellent [http://truledger.com/ Truledger] for an [http://truledger.com/doc/plain-english.html example of this concept].)
 
* Open Transactions also features '''markets'''. Any two asset types can be traded against each other. The [[markets]] are full-featured and include '''limit orders, stop orders, fill-or-kill, day orders''' (date ranges), and '''stop limits'''.
 
* Open Transactions also features '''markets'''. Any two asset types can be traded against each other. The [[markets]] are full-featured and include '''limit orders, stop orders, fill-or-kill, day orders''' (date ranges), and '''stop limits'''.

Revision as of 06:12, 18 June 2013