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RE: Witness Update - Primary witness now in Sweden + SteemEngine development

in #witness-category2 years ago

Lots and lots of stuff man !

It could be used to run a pegged token gateway, allowing either one-way or two-way conversions between a pegged token, and the
asset which it's pegged against (e.g. Bitcoin <-> Pegged Bitcoin Tokens)

The gateway is very very interesting to me as well. I have few stupid doubts ...

  1. Can you give an example of a pegged coin ?
  2. bitBTC can be an example case here ?
  3. Where do you get the exchange rate ?
  4. Can you add support for HTLC ?
  1. You could for example create a token on Bitshares or some other network pegged to STEEM or SBD, and you could use this to facilitate conversion between the Steem network's STEEM and Bitshare's STEEMPEG.
  2. From what I can tell, bitBTC is a token on Bitshares for Bitcoin, and that's a good example of something it could be used for.
  3. Currently it's just a number set on the Coin Pair in the database, there is no automatic exchange rate updates, but you could easily add a cron to update the exchange rates every few minutes.
  4. I'm not sure about atomic chain swaps, but it's open source, so anyone could add support for it if they wanted
  1. OK
  2. I was wondering what happens if a peg breaks - like what happened in the case of SBD.
  3. Got it - I think with @coingecko and others providing us APIs, this can be added very easily.
  4. On HTLC (atomic swaps) agreed. I am looking into HTLC for few things. I will revert with any information that I am able to find.

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