There are a number of exciting new updates to unpack in today’s newsletter, so let’s dive right in.
We are excited to let you know that ETH/ERC-20 XBridge integration is in progress and will continue over the next couple of months. This has been one of our most requested and highly anticipated features.
For the uninitiated, XBridge is the decentralized exchange layer of the Blocknet Protocol that enables cross-chain atomic swaps, and was designed from the ground up to decentralize each component of the…
Atomic swaps enable the peer-to-peer exchange of cryptocurrencies, without the need to trust any intermediary.
Atomic swaps thereby eliminate custodial risk and other frictions associated with intermediaries (including decentralized intermediaries!) such as the time and cost of deposits and withdrawals.
However, we know that risk can never be eliminated — only minimized.
So then… what are the risks of atomic swaps and how do we mitigate them?
Before we can understand the risks of atomic swaps, we must understand how they work — luckily they are actually quite simple.
The main building blocks of atomic swaps are a special type…
No issue has been more fiercely debated in cryptocurrency than that of bitcoin block size.
Bitcoin’s blocks contain a record of every transaction on the network. Thus, the transaction processing capacity of the network is limited by:
With theses constraints, the current transaction processing capacity of the network is less than 10 transactions per second.
This creates a bottleneck in bitcoin, which can result in increased transaction fees and delayed processing of transactions that cannot be fit into a block.
Various increases to this limit, and…
Blocknet (whose protocols power the Block DX Exchange) has been using the slogan “Internet of Blockchains” since the project launched in 2014.
The Founder of Cosmos, Jae Kwon, admits to knowing that Blocknet was using the slogan when he launched Cosmos in 2016 — but decided to use the slogan anyway:
This article explains why Blocknet is faster, more secure and generally more deserving of the title “Internet of Blockchains” than Cosmos.
While Cosmos markets itself as an “interoperability solution”, it does not actually permit blockchains to interoperate.
It is not possible, for example, to send Bitcoin and…