Civkit, a project attempting to revitalize After a dedicated year of work, the global peer to peer economy has released its first beta version. This protocol is designed to allow peer-to-peer trades in a more decentralized way, removing the need for an order book. It is built around Nostr, Lightning and a reputation-based system.
Nicholas Gregory, a team of anonymous software developers (Commerceblock and MercuryLayer) has worked behind the scenes for years to realize this vision. “The project is funded by people in the global south. Much of the work has involved understanding their actual needs rather than imposing our assumptions,” says Gregory. “Ray Youseff and Noones have provided funding for some developers, including one who lives in the global south, allowing us to test in regions where this solution is most needed.”
It provides an interface to generate P2P orders. This allows you to make buy/sell trades between peers, to pay hold invoices and to chat with trading partners. You can also confirm the fiat payment received, open disputes in the chat application, or view all other trade orders.
CivKit’s custom Nostr events types allow orders to be distributed among Nostr Relays that support these types, creating a global Orderbook. The BOLT11 escrow returns BOLT11 bills, which locks 5% in a holding invoice that will be released after the trade is completed. You can access an encrypted chat with basic dispute tools by using a URL.
Two weeks should be enough time for the Civkit alpha reputation system. The focus then shifts to federating order book, escrow, and eCash with Fedimint and subsequently incorporating eCash.
“This is a very ambitious project with a long way to go, but it’s exciting to see our first tangible results,” Gregory Adds
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Source: bitcoinmagazine.com
