Markets

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Creating Markets

After registering in the XBR Network, stakeholders that want to run their own data markets will first need to create a XBR Market.

JavaScript

async function main (account) {

    // marketId (like all IDs in XBR) is a 128 bit (16 bytes) unique value
    // here, we derive a deterministic ID from a name. other approaches to
    // get an ID are fine too - as long as the ID is unique
    const marketId = web3.sha3('MyMarket1').substring(0, 34);

    // every market has exactly one delegate working as a market maker delegate
    // the market maker maintains the real-time offchain balances, mediates
    // the actual data market transactions and talks to the blockchain
    const maker = '0x...';

    // optionally, provide an IPFS link to a ZIP file with market terms/documents
    const terms = '';

    // optionally, provide an IPFS link to a RDF/Turtle file with market metadata
    const meta = '';

    // both XBR Consumers and Providers must deposit 100 XBR into the
    // market as a security guarantee when joining
    const providerSecurity = 100 * 10**18;
    const consumerSecurity = 100 * 10**18;

    // the market owner takes 5% market fee
    const marketFee = 0.05 * 10**9 * 10**18

    // now actually create the market. the sender will become market owner.
    await xbr.xbrNetwork.createMarket(marketId, terms, meta, maker,
        providerSecurity, consumerSecurity, marketFee, {from: account});
}

Joining Markets

XBR Provider that want to offer or XBR Consumer that wants to use data services in a XBR Market first need to join the respective XBR Market.

A given actor (address) can only be joined on a given XBR Market only once, under one role of these roles:

• XBRNetwork.ActorType.CONSUMER

• XBRNetwork.ActorType.PROVIDER

The actor may join more than one XBR Market (under the same or different roles), but on one given XBR Market, it can only act as either a XBR Consumer or Provider.

Note

The XBR Market owner is automatically joined under role XBRNetwork.ActorType.MARKET when the market is created.

JavaScript

To join a XBR Market in JavaScript:

async function main (account) {

    // derive (deterministically) an ID for our market
    const marketId = web3.sha3('MyMarket1').substring(0, 34);

    // join under role XBR Consumer
    const actorType = xbr.ActorType.CONSUMER;
    // const actorType = xbr.ActorType.PROVIDER;

    // join the market
    await xbr.xbrNetwork.joinMarket(marketId, xbr.ActorType.CONSUMER, {from: account});
}