BitShares Forum
Main => General Discussion => Topic started by: teenagecheese on January 21, 2015, 11:18:10 pm
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Have I been reading correctly that the bitshares protocol is similar enough to bitcoin's to accept and transfer real BTC? If it is, why don't we make it so the bitshares client can accept actual BTC so users can trade it on the bitshares exchange.
This would eliminate a whole step of getting money into the bitshares ecosystem and would make bitshares exchange even more useful. You could even accept other popular cryptos in the same way (or not, but at least BTC), then it would be even an even more functional decentralized exchange.
This seems like a no brainer to me, am I missing something?
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Have I been reading correctly that the bitshares protocol is similar enough to bitcoin's to accept and transfer real BTC? If it is, why don't we make it so the bitshares client can accept actual BTC so users can trade it on the bitshares exchange.
This would eliminate a whole step of getting money into the bitshares ecosystem and would make bitshares exchange even more useful. You could even accept other popular cryptos in the same way (or not, but at least BTC), then it would be even an even more functional decentralized exchange.
This seems like a no brainer to me, am I missing something?
You'd need two-way pegging for this, and according to toast that isn't possible because DPOS cannot create SPV proofs. So no, it isn't possible. Best we have is gateways. You could potentially have gateways written with smart contracts that can become almost as safe as simply holding real bitcoin.
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The BitShares blockchain cant control anything outside of itself (like Bitcoin), so the best you can get in the BTS wallet is IOUs for Bitcoin or market pegged BitBTC.