Author Topic: Burst and Qora might soon be able to do ACCT directly with BTC  (Read 6100 times)

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Offline Xypher

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This is so cool.
Wait, never mind.
We already have this.
Plugged in to existing exchanges too.
check out electrons.io

Yes, am shamelessly advertising it.

They are talking about Atomic Chain Transactions, directly from chain to chain, not needing a 3rd party for that. You're providing a bridging service using exchanges from what I understood. It's different. Chain to chain transactions could be what ultimately bring decentralized exchanges to cryptomasses if only they could keep up with the speed and make it user friendly, which I think wont be possible for quite a while.

You're right. What we have right now is the first iteration of what could possibly evolve into a true cross chain exchange platform. For instance, currently we support only going from Bts to Btc with a preset value driven from exchanges, but ideally, a platform should allow multiple currency pairs (bts : nxt, nxt : quora: , doge : nxt) etc with its value driven relative to btc rates.  Cross chain transactions are indeed very interesting and its something we really need to look into.

By no means am I undermining what they are building  and I apologize if I came off that way :)

Offline Akado

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This is so cool.
Wait, never mind.
We already have this.
Plugged in to existing exchanges too.
check out electrons.io

Yes, am shamelessly advertising it.

They are talking about Atomic Chain Transactions, directly from chain to chain, not needing a 3rd party for that. You're providing a bridging service using exchanges from what I understood. It's different. Chain to chain transactions could be what ultimately bring decentralized exchanges to cryptomasses if only they could keep up with the speed and make it user friendly, which I think wont be possible for quite a while.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Xypher

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This is so cool.
Wait, never mind.
We already have this.
Plugged in to existing exchanges too.
check out electrons.io

Yes, am shamelessly advertising it.

Offline jsidhu

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I did some wor on the acct integration for a btc clone before me and the ciyam dev had a falling out, im guessing they used it to do acct on a bitcoin clone, but not sure how it will work with bitcoin itself without acct scripting support directly in bitcoin for the acct stuff.

Burst and qora are java based nxt clones which can do acct amogst themselves.. But how would it do it with btc?
« Last Edit: November 14, 2015, 08:46:29 pm by jsidhu »
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Offline Ander

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An additional note:


Quoting CIYAM:
"Although it is a little more tricky on the BTC side, assuming that some software is written to take care of the script and multi-sig address, then it will be entirely possible to exchange BTC for any ATC (such as BURST or QORA) without the need of any 3rd party (although you'd still need to find somewhere to match an order)."


Needing to find someone to match an order....
Do I see a need for OpenLedger here?

OpenLedger could potentially match these BTC to Qora/Burst orders and execute them directly on the blockchain. 
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Offline Ander

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https://bitcointalk.org/index.php?topic=1248631.0

This could let you trade directly between BTC, Burst, and Qora on the blockchains.  It works differently than an asset on the Bitshares exchange would, in that you would be trading the underlying coins, rather than derivatives.   

Qora is proof of stake, no inflation.
Burst is proof of capacity, which is an interesting alternative mining algorithm which doesnt burn tons of energy like bitcoin and is based on hard drive storage space.   It is still in an inflationary phase, but it had been beaten down to extremely low levels prior to this news.

I bought 1 BTC in each yesterday when I saw this. 
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