non-interactive atomic name trading for namecoin
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README.md
nametrade.py

README.md

THIS TOOL IS IN DEVELOPMENT - PLEASE DO NOT TRY TO USE IT YET!

ANTPY offers simmilar functionality but requires an interactive protocol to build the transactions.

See also https://forum.namecoin.info/viewtopic.php?p=13654#p13654

transactions

Offer to sell a name

Seller generates a partial transaction as follows:

Input 0: The previous NAME_FIRSTUPDATE or NAME_UPDATE output for the name. Output 0: Send $OFFERPRICE NMC to Seller's address.

This is then signed by the seller using SIGHASH_SINGLE|ANYONECANPAY.

A buyer can complete the trasaction by providing inputs supplying at least $OFFERPRICE NMC and a NAME_UPDATE output sending the name to themselves. They can make change for themselves if required, and are responsible for any needed fees.

Note that it's possible for someone to monitor transactions and try to double-spend the sell offer by buying it themselves. The seller still gets paid in this case, and the buyer's funds are not spent.

Offer to buy a name

Buyer generates a partial transation as follows:

Input 0: Redeem a previous output for $OFFERPRICE NMC. Must be the exact amount in a single output. Output 0: A NAME_UPDATE transaction setting the desired data and transfering the name to the buyer's address.

The name owner can complete the transaction by redeeming the name's last NAME_FIRSTUPDATE or NAME_UPDATE and sending themselves $OFFERPRICE less any transaction fees.

There are less possible shenanigans to pull on a buy offer. The main one is that someone finding buy and sell offers for the same name may complete the transaction and take any difference in price for themselves (or pay it as the case may be).

Auctions

A "sealed bid" format appears to be the simplest. A seller of a name would sign a solicitation for bids using the key that currently owns the name. Bidders then bid what they are willing to pay in the form of a buy offer encrypted to the seller's public key. The seller is able to end the auction at any time and will complete the highest received buy offer.