Chaincoin's first Atomic Swap


#1

With BIP65 soft fork activated Chaincoin was listed on BarterDEX, a fully decentralized exchanged using atomic swaps.

BarterDEX

About BarterDEX

The BarterDEX application created by Komodo Platform allows trading cryptocurrency coins without a counterparty risk. The protocol is open-source and trading is available for any coin that any developers choose to connect to The BarterDEX. The parent project, Komodo Platform, freely provides BarterDEX technology through open-source philosophy. BarterDEX fully realizes decentralized order matching, trade clearing, and settlement. The order -matching aspect uses a low-level pubkey-to-pubkey messaging protocol, and the final settlement is executed through an atomic cross-chain swap.

BarterDEX is currently in BETA phase of development and can be downloaded onto your desktop for testing. If you would like to interact and help test the exchange, please join the Komodo Slack workspace #barterdex channel to help test and provide feedback.
BarterDEX Stats
Download BarterDEX GUI

What Exactly is an Atomic Swap?

It’s quite simple: an Atomic Swap is a trade of one cryptocurrency directly for another, between the two parties wallets…without the use of any intermediary party, token, or exchange.

For example, let’s say Bob wants Bitcoin in exchange for his Litecoin. Sally has Bitcoin and wants to buy some Litecoin. And let’s assume these two don’t know each other so this is a trust-less relationship…and for all intents and purposes, anonymous.

When Bob and Sally perform an Atomic Swap, they each receive their desired token at an agreed upon price, directly between their wallets. The end result: Bob sends Sally Litecoin and receives Bitcoin in his Bitcoin wallet. Sally receives Bob’s Litecoin direct from his LTC wallet into her LTC wallet.

The trade is completed, instantly and securely, between these two trust-less parties and their appropriate wallets. And this simple person-to-person exchange is accomplished without the need of any intermediary wallet, exchange, token or 3rd party. They are in total control and ownership of their private keys the whole time and the only time their money moves is during the actual trade directly out of/into the designated wallets.

Chaincoin was Successfully Atomic swapped on chain with KOMODO!

Transaction details

SWAP completed! 3606148627-2858549605 {“uuid”:“daef193c03f9a9a6cb65ee26da7bef9c270c2b4107c0c96293424d0e4d9ca5a6”,“expiration”:1532341055,“tradeid”:0,“requestid”:3606148627,“quoteid”:2858549605,“iambob”:1,“Bgui”:“nogui”,“Agui”:"",“gui”:“nogui”,“bob”:“CHC”,“srcamount”:0.76328985,“bobtxfee”:0.00010000,“alice”:“KMD”,“destamount”:0.08009000,“alicetxfee”:0.00001000,“aliceid”:“10743808160860471297”,“sentflags”:[“alicespend”, “bobspend”, “bobpayment”, “alicepayment”, “bobdeposit”, “bobrefund”],“values”:[0.76338985, 0.08010000, 0.76348985, 0.08011000, 0.85890108, 0, 0, 0.85880108, 0, 0, 0],“result”:“success”,“status”:“finished”,“finishtime”:1532325883,“bobdeposit”:“8b26d234672285f5fbf7365a456691f3eed3ca49b1ce843f0a4ed51ca2de5f3e”,“alicepayment”:“a4df932c1d5b85f27ab643422cebfe18d4b0dfecc50a56a99c3a05ec07547bed”,“bobpayment”:“32668d085de00e505195064a042e54c8635a4f0713c6ac67913fa3d3f4b0c84d”,“paymentspent”:“62ed5015ae7575c0d8c66333d007332bac69792328dd9796209139cf1539f6d5”,“Apaymentspent”:“fe3a8ed8676e82c2612774d483d3c1f146735e381f3a2f057e69f17ac8aac22b”,“depositspent”:“ea5c9350d726783990c4f5281a96d63a32af614f0116bbfa5d110f174360565e”,“alicedexfee”:“ebd207d29ca04c0b21de4149c2b00c196411f217565f8bf5c9bf415d655cd6c0”,“method”:“tradestatus”,“finishtime”:1532325883}

CHC sent from Bob. CHC tx
KMD received by Alice KMD tx
And Bob received his change in CHC. CHC tx

This is a HUGE step for Chaincoin, congrats to all the volunteers!


#2

This Just Shows What IS Possible With Our New Update!

Congratulations Team!!


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