Difference between revisions of "Trade Protocols"
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[[Bisq 2]] will offer users the choice of multiple trade protocols. | [[Bisq 2]] will offer users the choice of multiple trade protocols. | ||
| − | + | A trade protocol serves as the fundamental framework for trading Bitcoin in a secure way. Each trade protocol presents its own set of advantages and trade-offs including: | |
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* Trade fees | * Trade fees | ||
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* Security deposit requirements | * Security deposit requirements | ||
* Privacy benefits / trade-offs | * Privacy benefits / trade-offs | ||
| + | * Convenience | ||
| + | |||
| + | Bisq 2 offers users the flexibility to select the optimal protocol aligning with their requirements and preferences. | ||
All trade protocols will be able to be accessed from the Bisq 2 application independently. Users will be able to switch between trade protocols for different trades should they wish. | All trade protocols will be able to be accessed from the Bisq 2 application independently. Users will be able to switch between trade protocols for different trades should they wish. | ||
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| + | As of now, Bisq Easy stands as the sole implemented protocol, tailored for novice Bitcoin users and suitable for smaller trade amounts. | ||
== Bisq Easy == | == Bisq Easy == | ||
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== Future Trade Protocols == | == Future Trade Protocols == | ||
| − | Bisq is planning on | + | Bisq is planning on adding more trade protocols available on Bisq 2. Explore the upcoming trade protocols. Keep an eye out for updates if any of the upcoming protocols catch your interest. |
| − | === Lightning | + | === Bisq Lightning === |
A Lightning Network Trade protocol has been proposed for Bisq 2. See the [https://github.com/bisq-network/proposals/issues/427 GitHub issue] for more information. | A Lightning Network Trade protocol has been proposed for Bisq 2. See the [https://github.com/bisq-network/proposals/issues/427 GitHub issue] for more information. | ||
| − | === | + | === Bisq Multisig === |
Bisq 1 currently uses a 2-of-2 multisig as its main trade protocol. This involves the buyer and seller putting down a [[security deposit]] that is locked in a multisig until the trade completes. At some point this protocol will be moved over to Bisq 2. | Bisq 1 currently uses a 2-of-2 multisig as its main trade protocol. This involves the buyer and seller putting down a [[security deposit]] that is locked in a multisig until the trade completes. At some point this protocol will be moved over to Bisq 2. | ||
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=== BSQ swaps === | === BSQ swaps === | ||
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Bisq 1 users have access to [[BSQ_swaps|BSQ Swaps]]. This allows users to swap from BSQ to BTC and vice versa. This is a type of atomic swap that takes place on the bitcoin blockchain. At some point this protocol will be moved over to Bisq 2. | Bisq 1 users have access to [[BSQ_swaps|BSQ Swaps]]. This allows users to swap from BSQ to BTC and vice versa. This is a type of atomic swap that takes place on the bitcoin blockchain. At some point this protocol will be moved over to Bisq 2. | ||
| − | === | + | === Liquid Swaps === |
Swapping assets on side chain like Liquid (L-BTC) or Rootstock (RBTC) has been suggested as a trade protocol Bisq 2 could implement. | Swapping assets on side chain like Liquid (L-BTC) or Rootstock (RBTC) has been suggested as a trade protocol Bisq 2 could implement. | ||
| − | === | + | === Monero Swaps === |
Cross-chain atomic swaps opens up the door to users being able to swap XMR for BTC. This will likely be the first cross-chain atomic swap Bisq 2 implements. | Cross-chain atomic swaps opens up the door to users being able to swap XMR for BTC. This will likely be the first cross-chain atomic swap Bisq 2 implements. | ||
| − | === | + | === Liquid Multisig === |
This trade protocol will use the same trade protocol as the 2-of-2 multisig but it will replace Bitcoin (BTC) with Liquid Bitcoin (L-BTC). The advantage to this is fees will be lower, and users will get more privacy with their trades. The disadvantage is that users will not be trading native bitcoin so will have to be comfortable holding LBTC and consider the costs of converting BTC to LBTC and back again. | This trade protocol will use the same trade protocol as the 2-of-2 multisig but it will replace Bitcoin (BTC) with Liquid Bitcoin (L-BTC). The advantage to this is fees will be lower, and users will get more privacy with their trades. The disadvantage is that users will not be trading native bitcoin so will have to be comfortable holding LBTC and consider the costs of converting BTC to LBTC and back again. | ||
| + | |||
| + | === Submarine Swaps === | ||
== Adding Trade Protocols to Bisq 2 == | == Adding Trade Protocols to Bisq 2 == | ||
Trade protocols are designed to be modular so more trade protocols can be added in the future. Anyone with ideas for new trade protocols should join the discussion on [[Matrix_bisq.chat|Bisq's Matrix chat]]. | Trade protocols are designed to be modular so more trade protocols can be added in the future. Anyone with ideas for new trade protocols should join the discussion on [[Matrix_bisq.chat|Bisq's Matrix chat]]. | ||
Revision as of 21:58, 19 November 2023
Bisq 2 will offer users the choice of multiple trade protocols.
A trade protocol serves as the fundamental framework for trading Bitcoin in a secure way. Each trade protocol presents its own set of advantages and trade-offs including:
- Trade fees
- Mining fees
- Security mechanisms
- Dispute mechanisms
- Security deposit requirements
- Privacy benefits / trade-offs
- Convenience
Bisq 2 offers users the flexibility to select the optimal protocol aligning with their requirements and preferences.
All trade protocols will be able to be accessed from the Bisq 2 application independently. Users will be able to switch between trade protocols for different trades should they wish.
As of now, Bisq Easy stands as the sole implemented protocol, tailored for novice Bitcoin users and suitable for smaller trade amounts.
Contents
Bisq Easy
Bisq Easy will be the first trade protocol for Bisq 2. It will be accessible on the launch of Bisq 2.
See here for more information about Bisq Easy.
Future Trade Protocols
Bisq is planning on adding more trade protocols available on Bisq 2. Explore the upcoming trade protocols. Keep an eye out for updates if any of the upcoming protocols catch your interest.
Bisq Lightning
A Lightning Network Trade protocol has been proposed for Bisq 2. See the GitHub issue for more information.
Bisq Multisig
Bisq 1 currently uses a 2-of-2 multisig as its main trade protocol. This involves the buyer and seller putting down a security deposit that is locked in a multisig until the trade completes. At some point this protocol will be moved over to Bisq 2.
BSQ swaps
Bisq 1 users have access to BSQ Swaps. This allows users to swap from BSQ to BTC and vice versa. This is a type of atomic swap that takes place on the bitcoin blockchain. At some point this protocol will be moved over to Bisq 2.
Liquid Swaps
Swapping assets on side chain like Liquid (L-BTC) or Rootstock (RBTC) has been suggested as a trade protocol Bisq 2 could implement.
Monero Swaps
Cross-chain atomic swaps opens up the door to users being able to swap XMR for BTC. This will likely be the first cross-chain atomic swap Bisq 2 implements.
Liquid Multisig
This trade protocol will use the same trade protocol as the 2-of-2 multisig but it will replace Bitcoin (BTC) with Liquid Bitcoin (L-BTC). The advantage to this is fees will be lower, and users will get more privacy with their trades. The disadvantage is that users will not be trading native bitcoin so will have to be comfortable holding LBTC and consider the costs of converting BTC to LBTC and back again.
Submarine Swaps
Adding Trade Protocols to Bisq 2
Trade protocols are designed to be modular so more trade protocols can be added in the future. Anyone with ideas for new trade protocols should join the discussion on Bisq's Matrix chat.
