Hello there. im writing a new idea. need to ask advice.
this is my questions,
is it possible to create a new blockchain to hold transaction for 2 party?
example: lets call this new blockchain, BANKCOIN. you have BTC want want ETH.
what you will do is, create a rules, say, input 1 btc and want 10eth. the blockchain will create a temporary bitcoin wallet and eth wallet,
you will deposit your bitcoin to this newly created btc wallet owned by BANKCOIN. once BTC deposit, a contract will be created.
and then someone else will complete your transaction by depositing 10 eth to this contract.
automatically you will receive ETH, and this guy will receive BTC, sent automatically by the BANKCOIN blockchain contract.
this is my questions,
is it possible to create a new blockchain to hold transaction for 2 party?
example: lets call this new blockchain, BANKCOIN. you have BTC want want ETH.
what you will do is, create a rules, say, input 1 btc and want 10eth. the blockchain will create a temporary bitcoin wallet and eth wallet,
you will deposit your bitcoin to this newly created btc wallet owned by BANKCOIN. once BTC deposit, a contract will be created.
and then someone else will complete your transaction by depositing 10 eth to this contract.
automatically you will receive ETH, and this guy will receive BTC, sent automatically by the BANKCOIN blockchain contract.
This already exists, its called atomic swaps. Also, look up the "0x" ETH token.
hello,thank you for your reply.
i read about atomic swap, it does not mention creating a new blockchain.
but yes, im trying to solve cross chain problem with other approach.
is there any technology that allow a decentralize chain to own a temporary wallet?
thank you for your attention. really appreciate it.
