An Alternative to the Order Book as the Market Design of a Crypto-Economic Trading Platform

In a crypto-economic trading platform: “The network becomes the exchange” Snapchat (ephemeral) bid-asks User-defined smart contracts The order book is a market design for the exchange of goods and assets.  It dates back to the European coffee houses of the late 1600s.  In London, Jonathan’s Coffee House was a significant meeting place for traders in […]

A Decentralized Alternative to the Order Book

In a crypto-economic trading platform: “The network becomes the exchange” Snapchat (ephemeral) bid-asks User-defined smart contracts Exchanges are regulated by the SEC and take years to gain approval.  Recently, the SEC has announced that all crypto exchanges are illegal unless they register with SEC. There are two key design principles informing a market design presented […]