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Atomic Swaps Are Nice But... by taskmaster4450

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· @taskmaster4450 ·
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Atomic Swaps Are Nice But...
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We received an update on Friday from Steemit Inc.  Evidently they had a gathering with Tron and mapped out a path for the collaboration between the two blockchains.  Or, at least, that is how they are trying to spin it.

Here is what they wrote:

>After meeting with the team we all agreed that the best way to progress our missions and add value to one another’s stakeholders is to connect our two powerful blockchains through Cross-Chain Atomic Swaps!

https://steempeak.com/steemit/@steemitblog/update-townhall-and-witness-meeting

That is very nice although it should be a given.  In fact, atomic swaps needs to be the goal of the entire industry.

At the present moment, the world of blockchain is fractured.  Each chain operates in isolation.  This is no different than the way networks were in the early days of the Internet.  Some might be old enough to remember the time when to change networks online, you actually had to go to a different computer.  Things advanced but it wasn't until the web browser came out which used a standard set of protocols that all sites were accessible.

Basically, an atomic swap is a method that allows for different blockchains to swap tokens directly without the use of a centralized entity like an exchange.  This is something that is going to be required since exchanges are points of failure.  

I would think this is a natural progression for the industry yet one that is not easy to solve.  This is a complicated matter from a technical standpoint with only a few being done.

Thus, it is not a bad goal to bring atomic swaps into the picture between Steem and Tron.

The challenge is this does not solve the primary issue.  Perhaps more details will come out in the discussion with the Witnesses but the core issue is keeping Steem sovereign.  The Steemit Inc stake is the big question.  Will Justin agree to use that as it was originally intended?

Obviously, we have no way of knowing this.  Of course, from a logical standpoint, it would make sense for him not to.  He was not the one making the promises and he acquired tens of millions of tokens that have value.  He is not about to just hand that over simply because Witnesses are stating there was a different purpose for them.

We will see how all of this unfolds.  Ultimately, it all comes down to trust.  I can't speak for the rest of the community, but with what took place the last few weeks, I do not believe Sun operates in ways that endear a great deal of trust.  I think his intentions are other than what was stated in the follow up tweets.  My view is his original messages where how he truly feels.

I could be proven wrong but my take is he is intent on getting Steem applications and users over to Tron exclusively.  That is what it seems he is truly after.

It is all a fascinating test of decentralization and authoritarian control.



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@chesatochi ·
The ultimate goal is to remain the Steem blockchain intact.  
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@doiny ·
well since it does not solve the real issue then i believe the atomic swaps should not be executed for now and finding a better alternative should be the goal right now....

Posted via <a href="https://steemleo.com/">Steemleo</a>
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@jdkennedy ·
My question is how is the exchange rate determined? In a centralized exchange, the supply and demand influences the rate (though it might be manipulated in some cases). How are the rates set in a DEX?
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@markkujantunen ·
I agree on Sun’s true intentions. We have no reason to trust him. Also, he might have been misled by Ned.
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@metzli ·
We want atomic swaps *and*...

I am completely thrown off by this March 6 meeting. We as a blockchain froze lots of $$$ and the response was: "sure, I'll talk about it with you guys, later."

How many of us would have even $100 held hostage, and save the talk about how to release them for another day. 

This is just weird. 

At first I thought I was exaggerating with my opinion, but, it seems like lots and lots of days are going by, and still March 6 seems far away.

Posted via <a href="https://steemleo.com/">Steemleo</a>
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@midlet ·
He's worth 800 million, and this is one of many companies he owns it's not a huge emergency for him I would imagine.
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@oldtimer ·
Of course he wants to move it to Tron. What's the point of buying steemit otherwise?
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@travelwithus ·
Ha ha, yes absolutely right. What is the reason that someone pay millions for that Steemit inc company and just let it like it is, dying....?!
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@vlemon ·
Very interesting piece and I agree with you, I would be very cautious with Justin's intentions. If I were at his place, I would try to migrate every dapps and user to TRON in order to give a higher value to my network.
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@wizwom ·
Well, of course he wants atomic swaps, because with these shenanigans people aren't going to trust any exchange with excrow any more.
Exchanges are tacitly NOT voting, because they don't really own the coin, they are custodians of it for exchange. For an exchange to "power up" their escrowed steem and use it is a direct violation of trust.,
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@woko ·
well since it does not solve the real issue then i believe the atomic swaps should not be executed for now and finding a better alternative should be the goal right now....

Posted via <a href="https://steemleo.com/">Steemleo</a>
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