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Offline bernard

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BitUSD atomic cross chain trading
« on: January 01, 2015, 04:17:11 AM »

How easy would it be to implement this in BitShares? TLDR; Payments are locked for nBlocks and refunded unless a secret from receiver is revealed.

https://bitcointalk.org/index.php?topic=628547.0
http://upcoder.com/11/atomic-cross-chain-exchange/

I would love to be able to trade BitUSD for Bitcoin or other alts directly and not have to deal with going though BTS everytime.

Offline bytemaster

Re: BitUSD atomic cross chain trading
« Reply #1 on: January 01, 2015, 01:36:05 PM »
Already supported at protocol level
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Offline bernard

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Re: BitUSD atomic cross chain trading
« Reply #2 on: January 01, 2015, 03:06:18 PM »
Already supported at protocol level

Not sure what that means.. I guess technically Bitcoin supports this at a protocol level as long as someone changes the client to create and accept these two new tx types (PayOnSecretReveal & SecretReveal).

So i'm assuming it also needs to be implemented in Bitshares? How much work would it be? Is anyone interested in implementing it?  I think it would increase demand for BitUSD if people can swap it for their own prefered coin.

What can I do to help make this happen? A couple of new API calls would be a good start perhaps?

Offline toast

Re: BitUSD atomic cross chain trading
« Reply #3 on: January 01, 2015, 03:49:51 PM »
Already supported at protocol level

Not sure what that means.. I guess technically Bitcoin supports this at a protocol level as long as someone changes the client to create and accept these two new tx types (PayOnSecretReveal & SecretReveal).

So i'm assuming it also needs to be implemented in Bitshares? How much work would it be? Is anyone interested in implementing it?  I think it would increase demand for BitUSD if people can swap it for their own prefered coin.

What can I do to help make this happen? A couple of new API calls would be a good start perhaps?

We don't have a scripting engine like BTC so "supported a protocol level" is slight more significant - there had to be deliberate effort to add that feature and it is there. But yes, someone has to change the wallet to craft the proper transaction.
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Offline bernard

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Re: BitUSD atomic cross chain trading
« Reply #4 on: January 02, 2015, 12:43:41 AM »
Thanks Toast, that sounds promising.

If we can get a few coins to support this we can start a truly trust free cross chain trading.. how can I raise the profile of this change? i'd love to see it implemented in an upcoming release.

Offline xeroc

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Re: BitUSD atomic cross chain trading
« Reply #5 on: January 02, 2015, 01:35:22 AM »
Search the forums for a thread opened by me that has crosschain in tge titel .. that post describes how xct works under the hood
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Offline bernard

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Re: BitUSD atomic cross chain trading
« Reply #6 on: January 02, 2015, 02:50:14 AM »

Offline luckybit

Re: BitUSD atomic cross chain trading
« Reply #7 on: January 03, 2015, 10:10:04 AM »
Already supported at protocol level

Maybe this is something to implement before 1.0. I could see it being very useful once Peertracks and other DACs are running.
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Offline xeroc

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Re: BitUSD atomic cross chain trading
« Reply #8 on: January 03, 2015, 12:57:58 PM »
Already supported at protocol level

Maybe this is something to implement before 1.0. I could see it being very useful once Peertracks and other DACs are running.
Totally agree! Even though the devs see escrow more as important (iirc)
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Offline Akado

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Re: BitUSD atomic cross chain trading
« Reply #9 on: January 03, 2015, 03:23:17 PM »
it seems something similar to this is already being done? https://bitcointalk.org/index.php?topic=904374.0
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Offline vikram

Re: BitUSD atomic cross chain trading
« Reply #10 on: January 06, 2015, 07:26:16 PM »
Already supported at protocol level

Not sure what that means.. I guess technically Bitcoin supports this at a protocol level as long as someone changes the client to create and accept these two new tx types (PayOnSecretReveal & SecretReveal).

So i'm assuming it also needs to be implemented in Bitshares? How much work would it be? Is anyone interested in implementing it?  I think it would increase demand for BitUSD if people can swap it for their own prefered coin.

What can I do to help make this happen? A couple of new API calls would be a good start perhaps?

We don't have a scripting engine like BTC so "supported a protocol level" is slight more significant - there had to be deliberate effort to add that feature and it is there. But yes, someone has to change the wallet to craft the proper transaction.

This is wrong--support for this along with all other untested operations are completely disabled in BitShares. Combine this with the fact that such functionality has never seen testing, and the only accurate thing to say is that we have NO support whatsoever for such a feature.

Offline xeroc

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Re: BitUSD atomic cross chain trading
« Reply #11 on: January 06, 2015, 07:41:42 PM »
"disabled in BitShares" equals disabled on blockchain/protocol level? or just client-side?
no withdraw_by_password anymore?

when did this happen.. that's (unfortunate) news to me :(
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Offline ronpaulmoneyman

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Re: BitUSD atomic cross chain trading
« Reply #12 on: January 25, 2015, 10:06:19 PM »

So this means this isn't about to happen anytime soon?  It would need to be enabled in devshares but there is no secondary chain to trade with. However Monsterer suggested I use this as it would be better but I'm not seeing it.

Is the code in toolkit branch to be enabled?

So how about I enable it in RPM then get it released and you guys enable it in Devshares? Then Devshares can have their price valued in RPMs! Katie bar the door! 

Or should i go back to running a gateway. <grin>  It seems preferable to exchanges at this point.


Offline xeroc

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Re: BitUSD atomic cross chain trading
« Reply #13 on: January 26, 2015, 07:24:22 AM »
As for CrossChain trading a "password" is shared it should be possible to test transactions without a second chain ..
basically it is just a "redeem with password"-kind of transaction .. those have to be enabled in devshares ..
@vikram : any chance to have withdraw_by_password_type transactions enabled in devshares so that people can finally test the implementation?
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Offline vikram

Re: BitUSD atomic cross chain trading
« Reply #14 on: January 26, 2015, 08:41:39 AM »
As for CrossChain trading a "password" is shared it should be possible to test transactions without a second chain ..
basically it is just a "redeem with password"-kind of transaction .. those have to be enabled in devshares ..
@vikram : any chance to have withdraw_by_password_type transactions enabled in devshares so that people can finally test the implementation?

No plans to enable it at the moment; every small thing we add will further delay 1.0. If the community thinks it is necessary though we can work on it.

 

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