Difference between revisions of "BSQ"
HunterNyan (talk | contribs) (Creating BSQ) |
HunterNyan (talk | contribs) m (Editing BSQ) |
||
| Line 1: | Line 1: | ||
| − | BSQ or BSQ | + | BSQ or BSQ tokens are a core function of the Bisq DAO. |
| + | |||
| + | =BSQ Token= | ||
| + | A BSQ token is a '''coloured coin''' on the Bitcoin blockchain. More plainly, a BSQ token is merely a few satoshis with some additional properties that identify it as BSQ in Bisq software. Outside Bisq, a BSQ token just looks like a few satoshis. But on Bisq, the additional properties have the following results: | ||
| + | |||
| + | * the satoshis take on the market value of a BSQ token | ||
| + | * the owner of the satoshis is endowed with power to participate in various Bisq governance functions | ||
| + | |||
| + | See it for yourself: [https://blockstream.info/tx/0243f99c848de4f53cb29157d10bf1cdbfcf4219f84e9997dd3cac9244ab7242/ here’s a BSQ transaction on an ordinary block explorer], and here’s [https://explorer.bisq.network/tx.html?tx=0243f99c848de4f53cb29157d10bf1cdbfcf4219f84e9997dd3cac9244ab7242 that same transaction on a BSQ block explorer]. | ||
| + | |||
| + | The value of a BSQ token is determined by the market as stakeholders buy and sell tokens to perform various functions in the DAO. Because BSQ tokens are only recognized by Bisq software, BSQ trading can only happen in Bisq software. | ||
| + | |||
| + | * The BSQ token is not associated with any kind of initial coin offering (ICO) or capital-raising initiative. It’s merely a tool to decentralize the governance of the already-functional Bisq exchange service. As of December 2018, Bisq has facilitated over 19,000 trades without major incident since it went into production in April 2016. | ||
| + | |||
| + | You can learn more about coloured coins [https://www.youtube.com/watch?v=68_DU1c0Cac here in this interview] or [[youtube.com/watch?v=xQTNigsrlO4 here]. Technical details of BSQ tokens are available [[Bisq DAO technical overview | ||
| + | | here]]. | ||
Revision as of 11:32, 27 April 2020
BSQ or BSQ tokens are a core function of the Bisq DAO.
BSQ Token
A BSQ token is a coloured coin on the Bitcoin blockchain. More plainly, a BSQ token is merely a few satoshis with some additional properties that identify it as BSQ in Bisq software. Outside Bisq, a BSQ token just looks like a few satoshis. But on Bisq, the additional properties have the following results:
- the satoshis take on the market value of a BSQ token
- the owner of the satoshis is endowed with power to participate in various Bisq governance functions
See it for yourself: here’s a BSQ transaction on an ordinary block explorer, and here’s that same transaction on a BSQ block explorer.
The value of a BSQ token is determined by the market as stakeholders buy and sell tokens to perform various functions in the DAO. Because BSQ tokens are only recognized by Bisq software, BSQ trading can only happen in Bisq software.
- The BSQ token is not associated with any kind of initial coin offering (ICO) or capital-raising initiative. It’s merely a tool to decentralize the governance of the already-functional Bisq exchange service. As of December 2018, Bisq has facilitated over 19,000 trades without major incident since it went into production in April 2016.
You can learn more about coloured coins here in this interview or [[youtube.com/watch?v=xQTNigsrlO4 here]. Technical details of BSQ tokens are available [[Bisq DAO technical overview
| here]].
