Investors reflect on how ETC makes use of proof-of-work based consensus mechanism known as “Nakamoto Consensus,” which uses a process known as “mining.” The Proof-of-work based consensus is the major technological breakthrough of Bitcoin, which enabled BTC to achieve such a high degree of security and value.
Several ETC consumers like the fact that ETC offers the Ethereum Stack Experience with Bitcoin like Monetary values. The ETC and ETH atomic swaps, which enables decentralized trading between networks are facilitated using Saturn Protocol.
The Saturn Network recently tweeted: “Cross-Chain Atomic Swaps! Happy to confirm that Saturn Protocol v2 will allow users to enjoy decentralized trading between ETH/ETC.”
Sydney Ifergan, the crypto expert, tweeted: “Cross-Chain Atomic Swaps used to be the much requested and much-awaited feature. Good that ETH/ETC will be able to trade between ETH/EC using Saturn Protocol.”
Excellent work has been done to create the on-chain DEXs like the Saturn Network. A lot of work is set to be done in the upcoming weeks to enable Saturn rings to provide for a truly decentralized and uncensorable cross-chain market place.
The user experience challenge is a big one when it comes to cross-chain atomic swaps, as it should work at a very large scale.
If a market place should be successful, there should be an easy way to access liquidity. Without liquidity, there will be no successful market place. The good thing about cross-chain atomic swaps is that at every point in the process, the trader will have complete control of their funds. Thus, they will be able to terminate their trades anytime. The counterparty risk is completely done away within the process. The funds will never be stolen away by hackers. Thus the cross-chain functionality will ensure complete decentralized, trustless, and uncensorable trading.
Ethereum Classic tweeted: “Traditional settlement systems are controlled by central entities and are not socially scalable at all, while BTC, ETC are trust-minimized, therefore permissionless, and globally socially scalable. Bitcoin and EthereumClassic Transaction Capacity.”
RTGS systems are finality engines in traditional fiat payment systems. Bitcoin and/or Ethereum Classic individually or combined provides for a higher daily and yearly volume capacity than when compared to all systems individually. Thus, BTC and ETC, either individually and/or combined will be able to capture the global highest value segments in the RTGS settlements first, when they scale over time.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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