Civkit Launches Alpha Version to Revolutionize Peer-to-Peer Trading
In a groundbreaking development, Civkit has unveiled its first alpha version after more than a year of intensive work. The project, aimed at rejuvenating the global peer-to-peer economy, introduces a decentralized protocol that eliminates the need for a centralized order book.
Led by a team of anonymous developers, with Nicholas Gregory at the helm, Civkit is set to transform the way peer-to-peer trading is conducted. The protocol leverages Nostr and Lightning technologies, with a reputation system serving as its foundation.
Gregory, known for his work with Commerceblock and MercuryLayer, emphasized the importance of understanding the actual needs of users, particularly in the global south. Funding from individuals like Ray Youseff and Noones has enabled the project to support developers from diverse regions, ensuring a comprehensive testing process.
The Civkit Node offers a user-friendly interface for creating P2P trade orders, facilitating seamless transactions between users. Through the use of a custom Nostr event type, orders can be shared among Nostr relays to create a global order book. The escrow system, which locks a portion of the trade amount in a hold invoice, ensures secure transactions and provides a platform for resolving disputes.
Excitingly, the team anticipates the release of the Civkit reputation system in the coming weeks, marking a significant milestone in the project’s development. Future plans include integrating Fedimint for order book federation and escrow services, as well as incorporating eCash support.
“This project is ambitious, but we are thrilled to see our hard work come to fruition with the launch of the alpha version,” Gregory remarked. With Civkit poised to revolutionize peer-to-peer trading, the future looks promising for decentralized economies worldwide.
