Nash protocol

Nash protocol was recently published on Nash’s public gitlab repository. I was wondering if someone from Nash team could shed some light on the vision behind this.

Here’s my understanding:

To put it in layman’s terms, the best comparison would be to the Facebook connect button, which allows you to mindlessly create an account on the third party site you’re on by using your Facebook account.

Except Nash protocol could be far more powerful, since once the account has been created from a third party service, it would allow it to do a lot:

This config contains all necessary values to interact with the Nash Matching Engine, including the ability to sign payloads needed for operations such as order placement, viewing private account information, asset transfers, and staking.

And you’ve guessed it, if dozens of third party services implement Nash protocol, they all contribute to Nash Matching Engine’s volume, which in turn yields dividends.

At this point, my questions are:

  • What would be the incentive for third parties to implement Nash protocol?
  • Is Nash Protocol part of Nash Pay’s foundations?
  • Could it fuel third party exchanges, not unlike what Binance cloud intends to achieve?

Hi @Oldsport, I am writting a piece on it - Nash protocol open sourcing is part of our long term strategy around transparency and ecosystem growth.

You are correct, with Nash protocol and our SDKs anyone can write their own client for the exchange system. Making only the reference implementation. This is to fulfill two goals:

1st - To be fully compatible with our transparency and open source ethos, showing the source code behind the cryptography primitives used and logic around the protocol. Allowing our community to end once and for all the “where is the source code ?” question.

2nd - To allow innovation around Nash platform. A long term goal of Nash with the introduction of MPC wallets is to allow further abstractions to be built on top of Nash, brokers such as eToro or Revolut could build on top of the platform while preserving the main non-custodial properties.

We will open source and release more tools in near future to further enable both 1st and 2nd goals.


Nice post!.
Yeah my take from it is:
That Nash are allowing traditional companies to imediatialy become non-custodial with this option. So traditional companies can connect to the decentralised world very quickly. I wonder does this make Nash and Quant Network competitors :confused:
(Most simple terms)

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Hi Fabio! Great to hear that Nash code will be open source! So other platform could use Nash infrastructure, how would Nash profit/grow from this? Would they be using the matching engine?

@Vic9t plans are only for the client side, not the server side. Regarding the business opportunity you can think of this as Nash enabling the use of its backend as a service, like Firebase - but we don’t change monthly fees, we charge trading fees. Anyone that builds using the nash-protocol library will be using the matching engine.

Also open sourcing the client side allows us to demonstrate how we can make use of accounts but be non-custodial, allow people to look at how we handle security on the client and verify that the protocol is properly implemented and followed. And they have a library implementing all this so users of it known private keys are not leaking and etc.