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Author Topic: Software for atomic swaps  (Read 447 times)
Xaltotun
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September 11, 2019, 06:38:22 PM
 #21

Can confirm Blocknet is the real deal. No IOU's here and you trade direct from your own wallets where you control the private keys. Have traded there myself.

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Carlton Banks
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September 11, 2019, 10:49:32 PM
 #22

Blocknet has 100% real atomic swaps on their Block DX exchange

right, but you have to buy their token to use it.

if there's more than 1 transaction, it's not an atomic swap. Blocknet could sell you a bunch of their tokens, then give you no access to people to swap with.

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86B
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September 11, 2019, 10:59:11 PM
 #23

Blocknet has 100% real atomic swaps on their Block DX exchange

right, but you have to buy their token to use it.

if there's more than 1 transaction, it's not an atomic swap. Blocknet could sell you a bunch of their tokens, then give you no access to people to swap with.

You pay a fee to the service node who makes sure no duplicate utxo's exist with regards to your counterparty's collateral so that the decentralized orderbook isn't bloated and taken advantage of - the trade itself is strictly a P2P atomic swap and the fee transaction has absolutely nothing to do with the entire atomic swap process.  The fee is only charged to the order Taker too, so you don't need to have any BLOCK if you make orders, only if you take orders.

Your personal definition of an atomic swap is clearly wrong.

The entire exchange is completely decentralized so Blocknet itself can't do anything to block access to people to swap with.
Carlton Banks
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September 12, 2019, 08:19:17 AM
 #24

Your personal definition of an atomic swap is clearly wrong.

The entire exchange is completely decentralized so Blocknet itself can't do anything to block access to people to swap with.

if that was true, there'd be no reason for takers to buy a token to make it work


the point stands: you can buy your AtomicSwapCoin, and get nothing. That's not an atomic swap, lol

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Giulioz
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September 13, 2019, 04:17:29 AM
 #25

they say "send us BTC to our address, then once we receive, we send you LTC"

that is not an atomic swap


When I use the wallet, I just enter the amount I want to swap and it automatically does it. Does that mean it automatically sends to their address without me knowing?

NewBet
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September 29, 2019, 04:09:18 PM
 #26

they say "send us BTC to our address, then once we receive, we send you LTC"

that is not an atomic swap


When I use the wallet, I just enter the amount I want to swap and it automatically does it. Does that mean it automatically sends to their address without me knowing?

He is saying that they require him to send Bitcoin and that when they receive it they will send the other currency. However, that is not how atomic swaps work. So he's right. Something doesn't add up.
d5000
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October 31, 2019, 12:27:20 PM
Last edit: October 31, 2019, 12:53:32 PM by d5000
 #27

I have created a list of software from what I believe to be tools or services that use "real" atomic swaps. Yes, most of them are not very "usable" but they exist.

I have included also some semi-centralized services where an intermediary only acts in tasks like "order matching", like SparkSwap (which claims to use Lightning) and Swap.Online. If someone knows their code and can affirm that they're _not_ real atomic swap tools, a comment (better in my atomic swap list thread) is highly appreciated.

About Komodo's AtomicDEX I have my doubts (above all being a mobile-first/mobile-only service), but must look deeper into it to really be able to give an opinion. AFAIK, however, BarterDEX (the antecessor of AtomicDEX) was a real decentralized atomic swap tool without intermediary (each participant had to run a software) using TierNolan's swap model.

Edit: Looks like AtomicDEX is legit; it is based on a rewrite of the technology that powered BarterDEX (the Market Maker 2 command line script). This script is to be run on servers or PCs, the mobile app is a light wallet that simply connects to these "liquidity providers" and arranges swaps with them.

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