Qtum Introduces Bitcoin Atomic Swaps to Its Mainnet


#1

There have been quite a few interesting announcements from QTUM lately, which theoretically, sounded quite exciting for dApp developers and just pretty cool for crypto in general!

Our development team has repeatedly told me that Atomic Swaps are not a trivial feature that anyone can implement, so this is probably an update that has been in the works for some time. To me it sounds like a very attractive point for bringing developers and users to QTUM’s blockchain, for example, if you launched a dApp that required a user to have QTUM to use you could first allow them to exchange some BTC for QTUM on chain without ever leaving your platform.

And here is the really cool part, I believe you would be able to implement it in a way that new users would not even have to pay their own transaction fees to exchange BTC to QTUM as they also announced Third-Party Payments:

So for example, your business could cover the network fees required to exchange BTC to QTUM, you could think of it as a cost for on-boarding new users. I mean, that would be quite a cool feature to bring people to your decentralized exchange wouldn’t it?

Thoughts?


#2

3rd party payments are huge, especially if you can program who pays the fees in Solidity.

Atomic swaps are definitely possible and no that hard to do. What is hard to do is a usable product powered by atomic swaps. Atomic swaps fundamentally require both parties to execute 2 transactions in a specific order (4tx total) in a limited amount of time. It is much less convenient than any centralized experience that people are used to. In order for a new product to succeed it needs to be at least not worse than its predecessors, which is why we focus so much on comfort and 1-tx experience for Saturn.Network


#3

Like a boss^ @Neuron