Topic: FINALLY- we can now exchange coins between different blockchains - page 3. (Read 554 times)

So you are releasing another token for this Jelly.market, what about the weidex token you did release back then where you guys didn't distribute to the bounty participants yet?  You were operating with weidex for a long time already. I thought you took advantage of the participants and you might just took advantage again for this jelly.market when its not a very unique project at all.

This is more like Shapeshift, than Atomic swap, though I would love to see your Github depositories, if it is like Shapeshift then nothing new IMO, it is just like using different exchange liquidity in the background for the swap. A lot of work is on going with Atomic swap but none as really gain great user traction

just a few questions, is here SWAP automatically or manually? because I am worried about changes in the price rate some time waiting for payment to be sent and received, if it is done automatically I will try another time, I have never tried the SWAP site in the crypto world, does it look safe

They do not charge the fee but they are gaining profit from the spread. you can read their whitepaper to know more about the ecosystem.
I think the team needs to update their website by adding a live update of the price.
for example like this
ETH/TRX 10037.249572(it is automatically changing whenever the spread changes).

Atomic swaps are a necessity within the cryptocurrency space.  I took a look at the ETH-TRON swap page and I must say I like the way it looks: neat and easy to use.  Since it's just blockchains interacting,  will Jelly charge for facilitating transactions or how does it intend to be profitable?

Two days left!

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👍 Follow us on Twitter https: //twitter.com/jelly_swap
💬 Join our Discord https: //discord.gg/3fCbp9U
🔃 Swap:
✅ go to the dApp https: //app.jelly.market/
✅ connect your wallets to start
✅ a pop-up will appear to tweet your ETH address automatically
✅ you will receive testnet ETH
✅ finish the Swap and win 5$
📢 Leave feedback http: //bit.ly/37fMDDL and win 10$

‼️For all the early birds - register here to be among the FIRST who will receive testnet ETH on Nov 20th. Swap and Win 🥳 http://bit.ly/2XlI46k

Almost there - we are focused on final tests and fixes. On Nov 20th the dApp will be available on the testnet for ETH, BTC and TRX. You will be able to try the swaps. In the form below you can provide your ETH address in order to send you some test ETH for swaps on Nov 20th.

http://bit.ly/2Q4bi7Y

As people asked about an official announcement, you can see it here: https://bitcointalksearch.org/topic/ann-jelly-swap-real-implementation-of-cross-chain-atomic-swaps-5200835

In the beginning we will be the liquidity provider.
Then we will involve group of trusted LPs.
Then anyone with personal computer can be a LP.

How does this work?

1 There is a nodejs script, it is connected with js rpc library to all of the supported blockchains.
2 The LP run this script on his own machine - configure for a given pair, add his wallet and start the script.
3 When someone locks funds and the receiver is the LP => liquidity provider locks funds as well
4 The swap is finalized

The whole process is trustless and depends on blockchain events - cannot be corrupted.

The taker/ user, do not care about these liquidity providers.
He has a pool of them and has instant liquidity.
When he/she wants to swap - the best rate is selected and he/she just clicks swap.

You can read more here:
https://jelly.market/documents/Jelly-Swap-Ecosystem.pdf

We are aiming to build decentralized shapeshift/changelly.
And yes it will be possible to lend BTC directly in compound in 1 click.
1 Your BTC will be converted to DAI
2 Your DAI will be lended in compound
3 You start earning interest

4 When you decide, you can withdraw your funds.

Well he just elaborate this matter right up there and he is saying that this service didnt involve third parties which basically means that it’s a trustless service. As I can grasp from the explanation it is basically a p2p exchange with extra steps() because transaction will be executed when the required amount meet its criteria for each side while shapeshift is basically an exchange but a lot more simpler just for temporary exchange or urgent matters. Sounds interesting actually if it works just like what I grasped. What baffles me is the availability of the liquidity provider? Is the liquidity provided by the exchange or rely on an individual?

We can exchange coins between different blockchains since day one of cryptocurrencies pal, dex, cex, swaps etc are all already available, even old wallets are now implementing changelly and shapeshift in their wallets now, you can change coins in wallets without moving them out

I was about to mention changelly and even shape-shifting. Because thats kind of the services being offered by enjin or imToken2.0. So i dont think the OPs idea is unique perhaps its offered in a different way. I have seen some other swap projects like swapzilla springing up to offer same services too

Hey guys, thanks for your feedback and comments. It's very valuable for us. Really!

What we've been trying to build (and hopefully already built) is a way to exchange one asset from network A for another asset from network B (e.g. BTC for ETH). We know that there are a lot of services allowing this - ShapeShift, Changelly etc. Basically the difference is that we allow the exchanging of assets to happen without the need of a trusted party between A and B (i.e. ShapeShift, Changelly).

The beauty of it is that the whole process is mathematically and cryptographically secured. The whole source code is/will be open sourced, so it can be easily verified and thus trusted (or not). Another beauty of it is that if you allow Alice to swap her BTC to Bob's ETH, Alice can now interact directly with an Ethereum dApp using Jelly.

Simple real life example is Compound. You can use Jelly to supply ETH/DAI/WBTC to Compound having only BTC. In the case where one use ShapeShift - you have a lot of additional steps before using Compound for example.

The process is relatively fast (actually as fast as it could be at the moment) and certainly secure. In my personal opinion as a user (not a developer), I think the whole user experience is great even if you are very little familiar with cryptocurrencies/blockchain.

I think that with YOUR help we can build great product that potentially can accelerate the usage of dApps across our community. We would be very happy if you give it a try when the testnet is officially live and give us your precious feedback.

If anyone of you have any kind of questions ( tech or non tech ) please ask I will answer them ASAP.

Also, soon we will make an ANN thread as per your suggestions. Thanks!

I haven't heard about it till now.
I am not sure how does it work, but it looks like it is using some second layer solution - blocknet  seems like separate blockchain.

Jelly swap is meant to be more simple and to have instant liquidity like multi chain uniswap.
https://app.jelly.market/swap/ETH-TRX

I agree that we need more p2p trading and this is the future.

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We hope that it will be useful.
Shapeshift is trustworthy, but requires KYC.
And with jelly swap, you can provide liquidity and earn some profit from the spreads in shapeshift you do not have such option.
Last, but not least jelly swap is much more decentralized and secure

We will see what will happen, the future is bright!

How is this any different as to use the Blocknet DEX, to exchange your funds peer 2 peer? A dApp that's been around for ages.

Nice seeing so much innovation in the DEX field, but you're promoting it as something "new" which I don't see at all.
Hopefully peer 2 peer trading will be used by more and more people in the future, since it's way more secure than sending your funds to a centralized hackable site, haha 

Interesting to see new things are coming up everyday in this area. But what is the real difference when compared to exchanges? There also we exchange with different coins right?

Yep same services as atomic swapping were already easy just as shapeshift services where introduced years ago.  The people behind the project jelly.market are also the ones behind wiedex project, so it gives a good impression for your exchange.

This team is doing promotions and adding tokens listed to their exchange but didn't actually paid the bounty hunters which seen people saying scam to these people, just beware.