Bitcoin network will have an anonymous P2P marketplace Civ Kit

The exact launch date of the platform is still unknown

21.04.2023 - 07:20

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What’s new? Ray Youssef, the co-founder of the previously closed platform Paxful, co-authored with Bitcoin researchers Nicholas Gregory and Antoine Riard, published a document on GitHub with a presentation of Civilization Kit (Civ Kit), an anonymous peer-to-peer market. The platform will run on the Bitcoin network and use the Nostr and Lightning Network protocols. The exact launch date for Civ Kit has not yet been announced.

The full version of the document

What is known about the project? The authors of the document believe that there is a “failed system” in the world, because of which billions of people suffer. And bitcoin is able to solve this problem.

On the new platform, users will be able to trade various goods and services, as well as exchange cryptocurrencies for fiat. All ads will be pre-moderated to prevent trading in prohibited goods. Security of operations will be implemented through the use of escrow accounts. Developers will gradually post the source code on GitHub so that everyone can learn more about the future features of the Civ Kit marketplace.

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How will the platform work? To sell their goods or services, the seller will put an offer on a bulletin board (a Nostr server, connected through an onion gateway to the Lightning Network). After that, the ad is then seen by Nostr’s subscribers. A potential buyer sends a hashed timelock contract (HLTC) through the Lightning Network supporting the Civ Kit platform escrow account. The seller then delivers the product/service and requests funds from escrow. The buyer confirms the delivery and the funds are transferred to the seller.

The decision to create the new marketplace came shortly after Youssef said that Paxful was shutting down indefinitely due to layoffs of key employees and increased pressure on the industry from US regulators.

At the same time, Youssef said that he plans to involve community members in the creation and funding of Civ Kit, calling the project the evolution of bitcoin.

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