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RE: Witness Update - Primary witness now in Sweden + SteemEngine development
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 ...
- Can you give an example of a pegged coin ?
- bitBTC can be an example case here ?
- Where do you get the exchange rate ?
- Can you add support for HTLC ?
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someguy123 (69) 5 years ago
- 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.
- 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.
- 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.
- I'm not sure about atomic chain swaps, but it's open source, so anyone could add support for it if they wanted
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bobinson (63) 5 years ago
- OK
- I was wondering what happens if a peg breaks - like what happened in the case of SBD.
- Got it - I think with @coingecko and others providing us APIs, this can be added very easily.
- 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.