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It's technically possible to implement this in a trustless decentralized way: https://en.bitcoin.it/wiki/Atomic_swap https://en.bitcoin.it/wiki/Atomic_swap. I c
by AgentME 8y ago
It's technically possible to implement this in a trustless decentralized way: https://en.bitcoin.it/wiki/Atomic_swap https://en.bitcoin.it/wiki/Atomic_swap. I can't tell if this does it that way or in a centralized way though.
- dangero 8y agoAtomic swaps don't make WBTC feasible in a trustless decentralized fashion. The swap itself is only a very small part of the problem. The article states they are using custodians to hold Bitcoins.
- askmike 8y agoYou can lock bitcoin up inside the BTC mainchain by using certain OP codes. This allows you to create a sidechain. For example Liquid does this: https://blockstream.com/liquid/ https://blockstream.com/liquid/
- LowLevelHacker 8y agoLiquid is essentially a "2nd layer" pyramid scheme run by the absolute fraud of a company that is Blockstream. Adam Back has done more to kill decentalized digital cash than any other single person.
- dangero 8y agoLiquid holds btc using multisig not just OP codes.