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General Discussion / Re: Proposal Idea for Bitshares - Use SmartCoins instead of User Assets for Altcoins
« on: October 14, 2017, 03:31:31 am »
What about CryptoBridge who claims to be a Fully-Decentralized Gateway...
Here's what they say... Very Interesting...
1--- Q: How are gateways decentralized in CryptoBridge?
A: CryptoBridge is using a federated network of many gateways connected to each other, all issuing the same multi-signature proxy-assets. A super majority of agreeing gateways is needed to publish a transaction on the blockchain. In this trust-reduced setup, you don't have to trust a single entity to hold your funds. Each gateway node is independently verifying the transactions of the other nodes to make sure gateways stay honest.
2 ---CryptoBridge provides more decentralisation when it comes to the gateways, normally a BTS Gateway is a central point of failure because the Gateway is just operated by the company owning the exchange. The user is dependant on the gateway to deposit/withdraw his funds. In CryptoBridge, a federated distributed network of gateways, operating world-wide, makes sure that there is no single point of failure whatsoever. In fact, this network will continue to operate if CryptoBridge (the development company) goes out of business.
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So... Should we only use the Bridge Gateway then ?
Here's what they say... Very Interesting...
1--- Q: How are gateways decentralized in CryptoBridge?
A: CryptoBridge is using a federated network of many gateways connected to each other, all issuing the same multi-signature proxy-assets. A super majority of agreeing gateways is needed to publish a transaction on the blockchain. In this trust-reduced setup, you don't have to trust a single entity to hold your funds. Each gateway node is independently verifying the transactions of the other nodes to make sure gateways stay honest.
2 ---CryptoBridge provides more decentralisation when it comes to the gateways, normally a BTS Gateway is a central point of failure because the Gateway is just operated by the company owning the exchange. The user is dependant on the gateway to deposit/withdraw his funds. In CryptoBridge, a federated distributed network of gateways, operating world-wide, makes sure that there is no single point of failure whatsoever. In fact, this network will continue to operate if CryptoBridge (the development company) goes out of business.
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So... Should we only use the Bridge Gateway then ?
