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102 sats \ 1 reply \ @kr 19 Nov 2021 \ on: Square introducing tbDEX - a liquidity protocol bitcoin
Seems like it will be quite some time before the protocol is implemented:
"This initial draft of the whitepaper is meant to establish a conceptual understanding of the high-level design of the proposed tbDEX protocol. It should not be considered complete or final. It represents a proposed design for public comment.
Future revisions of the whitepaper will address incomplete elements and currently unforeseen issues or challenges.
After acceptance of the final protocol design, a tbDEX Protocol Specification will be developed and published. Next, a standard-comformant, open source reference implementation and SDK for wallets will be developed, as well as a reference implementation of the PFI Node software."
Does anyone have any guesses how long this process might take? Months? Years?
I’d bearishly wager at least 3 years before we see an MVP. Protocols like this are hard as is, but if you’re in a large corporation with layers of approvals and tacking on standards compliance (whatever that means) and community approval it introduces a lot of overhead. They could probably design and build something functional in the 12-18 months barring this overhead assuming they have 1% engineers which they probably do.
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