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Author Topic: General Discussion (Quack)  (Read 2516 times)

Cassius

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Re: General Discussion (Quack)
January 27, 2016, 09:33:25 am

Is this right:
Quack uses a pre-prepared trigger transaction (any tx, could be a simple send message or NXT). This is not sent at first but the txhash is used as a condition of executing asset swap transactions from the two parties involved. Once it's set up and they can both see each others' tx on the blockchain, the trigger tx is sent and off they both go.

Why not use just two transactions? Could be done like this:
Alice creates a transaction to Bob, sending 10 superBTC when the secret of a hash is revealed.
Bob uses the txhash of that transaction as a condition to send 10 NEXTBOND to Alice.
Alice enters the secret phrase, and both txs execute.
I head up content for BitScan, crypto business hub.

blackyblack1

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Re: General Discussion (Quack)
January 27, 2016, 09:42:14 am

Is this right:
Quack uses a pre-prepared trigger transaction (any tx, could be a simple send message or NXT). This is not sent at first but the txhash is used as a condition of executing asset swap transactions from the two parties involved. Once it's set up and they can both see each others' tx on the blockchain, the trigger tx is sent and off they both go.
Yes this is right.

Why not use just two transactions? Could be done like this:
Alice creates a transaction to Bob, sending 10 superBTC when the secret of a hash is revealed.
Bob uses the txhash of that transaction as a condition to send 10 NEXTBOND to Alice.
Alice enters the secret phrase, and both txs execute.
Alice's transaction will be created on the blockchain? How the secret of a hash is revealed? Does it require additional transaction?
If Bob is using the txhash of Alice's transaction and Alice's transaction is on the blockchain Bob's tx will be released immediately.

Cassius

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Re: General Discussion (Quack)
January 27, 2016, 09:45:13 am


Why not use just two transactions? Could be done like this:
Alice creates a transaction to Bob, sending 10 superBTC when the secret of a hash is revealed.
Bob uses the txhash of that transaction as a condition to send 10 NEXTBOND to Alice.
Alice enters the secret phrase, and both txs execute.
Alice's transaction will be created on the blockchain? How the secret of a hash is revealed? Does it require additional transaction?
If Bob is using the txhash of Alice's transaction and Alice's transaction is on the blockchain Bob's tx will be released immediately.

Good point, I don't think that would work. Would need to check what happens with such a tx but I suspect you're right.
I'm just trying to understand what's possible here. There are building blocks that might be put together in any number of ways. Could be some very cool stuff that borders on smart contracts.
I head up content for BitScan, crypto business hub.

blackyblack1

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Re: General Discussion (Quack)
January 29, 2016, 09:44:58 am

Ok I have no idea how to create a proper translation for a plugin... I could create separate releases for each language but do not like this solution.

slothbag

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Re: General Discussion (Quack)
July 24, 2016, 01:25:02 am

This looks great blackyblack1..   Can this work for cross chain swaps?? like for ETH or BTC? that would be really handy.

blackyblack1

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Re: General Discussion (Quack)
July 24, 2016, 03:46:12 pm

This looks great blackyblack1..   Can this work for cross chain swaps?? like for ETH or BTC? that would be really handy.
I have started working on cross-chain atomic swap (BTC-NXT to start with) but put it aside to focus on FM project.
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