GameStar.Exchange Taurus Protocol Overview
Trade disputes often occur in centralised P2P trades due to the unique idiosyncratic nature of these transactions. After a complaint occurs, in centralised exchanges, customer service will act as an intermediary to handle the problem. However, with gift cards, game items, or NFT transactions, customer service may be slow to respond due to the subjective nature of such disputes and the mandatory completion of evidence forms. Processing speeds are slow and often delays of a week or even several weeks occur. At the same time, misjudgments are very high. That results in a trader losing funds that cannot be recovered.
GameStar.Exchange is a decentralised P2P trading platform that does not hold custody of users’ assets or private keys in order to ensure the security of users’ assets. In order to ensure rapid response time and fair arbitration, the Taurus Fair Judgment Protocol was developed. This protocol creates a distributed appeals process. Expert nodes have an incentive mechanism to judge disputed transactions quickly and reach a consensus with an immutable decision on the chain. This creates an efficient and safe trading environment for users.
Taurus Fair Judgement Protocol Process
The expert nodes are the most important part of the GameStar Exchange arbitration ecosystem. These user nodes can ensure the long-term successful operation of GameStar Exchange arbitration management.
Before the project is launched, the community will invite experts with strong P2P trading experience to become the first batch of expert nodes. With the gradual development and maturity of the community, new opportunities will open up for new expert nodes. All community members who understand the operating mechanism of nodes and have good trading experience can apply to become nodes. Eventually, all nodes will be approved through community voting.
Taurus Operating Structure
When there is a dispute, both parties of the transaction will initiate an appeal request through the API. According to the Taurus protocol, randomly selected expert nodes receive the appeal request and will act as judges. They are permitted to view all the information and attachments of the transaction. They may also ask both parties to provide more information.
After reviewing the information automatically provided from the transaction of the disputed order, the nodes provide judgment results within a specified time period. After all the nodes involved in this order dispute have been given a result, the system will make a consensus conclusion based on the blockchain consensus mechanism. Taurus will automatically transfer the digital currency to the winning trader it corresponds to.
All nodes need to pledge a certain amount of GMS (GameStar) tokens as a deposit to ensure honest and fair operations.
Dishonest nodes that repeatedly judge against consensus will be deducted a certain deposit as a fine. Nodes that vote with consensus will receive GMS mining rewards and will also receive a certain percentage of transaction fees in the system as dividends.
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