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Chris Troutner
2022-03-11 12:48:58 -08:00
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dev-docs/README.md
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@@ -24,9 +24,9 @@ This architecture keeps the global database highly censorship resistant, while a
# Definitions
The workflow of a token trade has three parts:
- **Make** - An *Offer* to buy or sell tokens is generated by a user, known as the *Maker*.
- **Take** - A second user, known as a *Taker*, will *take* the *Offer* by issues a *Counter Offer*
- **Accept** - The original *Maker* checks the *Counter Offer* and *Accepts* it by signing and then broadcasting the transaction.
1. **Make** - An *Offer* to buy or sell tokens is generated by a user, known as the *Maker*.
2. **Take** - A second user, known as a *Taker*, will *take* the *Offer* by issues a *Counter Offer*
3. **Accept** - The original *Maker* checks the *Counter Offer* and *Accepts* it by signing and then broadcasting the transaction.
Trade done in this way are both *trustless* and *atomic*:
- **Trustless** - This means that neither party needs to trust the other. The Maker gets to review the Counter Offer before broadcasting it. The Maker can not alter the Counter Offer after the Taker has signed it.
@@ -35,7 +35,7 @@ Trade done in this way are both *trustless* and *atomic*:
Specific *Entities* are defined in the [specification](./specification.md), but here is a brief summary:
- **Order** represents the Maker side of the trade. This entity is tracked internal to `bch-dex` and is used to track tokens set aside for sale.
- **Offer** contains most of the same information as an **Order**, but is external to `bch-dex`. This is data submitted to the P2WDB and visible to all users on the network.
- **Counter Offer** is generated by a *Taker*, in order to take the other side of the trade. It contains a partially-signed transaction, ready for review by the *Maker*.
- **Counter Offer** is generated by a *Taker*, in order to take the other side of the trade. It contains a partially-signed transaction, ready for review by the *Maker*.
# Back End