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The future of blockchain platforms

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trade_portal_overview [11/16/2022 06:16] – [How To Use The Trade Portal] gfactortrade_portal_overview [11/16/2022 06:17] – [Atomic Swaps in Trade Portal] gfactor
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 It is normal for cryptocurrency transactions to take a while and not be immediate. They take a certain number of "confirmations" before they become spendable in the receiving wallet. For LTC that can be 10 mins or so, for BTC it can be up to an hour. So this is a limitation of the BTC/LTC/etc networks. Luckily QORT transactions are much faster. Also, if the other network has a lot of demand for transactions, it can take a while for it to even be processed and included in a block. Especially if the fee is low. So that can slow things down too. It is normal for cryptocurrency transactions to take a while and not be immediate. They take a certain number of "confirmations" before they become spendable in the receiving wallet. For LTC that can be 10 mins or so, for BTC it can be up to an hour. So this is a limitation of the BTC/LTC/etc networks. Luckily QORT transactions are much faster. Also, if the other network has a lot of demand for transactions, it can take a while for it to even be processed and included in a block. Especially if the fee is low. So that can slow things down too.
  
-===== Atomic Swaps in Trade Portal ===== 
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-With Qortal, we are swapping directly between blockchains with absolutely no central component between them (and no need to trust an entity to "wrap" a coin in a token or any other centralized techniques like this). True cross-chain swaps require multiple transactions to occur sequentially on each chain, and each of these transactions needs time to confirm before it moves on to the next. 
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-If any other platform is swapping instantaneously or within seconds, then it isn't decentralized. The only way to swap that quickly is to have a centralized component handling the swaps, or by staying on a single chain (e.g. using a wrapped coin). 
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-As of August 29th, 2022: Note that confirmations on the QORT side do currently take longer than they ought to, and this slows down the trade process. Longer term we should be able to solve this and this will speed up each trade by 5 mins or so. 
  
 ===== How To Use The Trade Portal ===== ===== How To Use The Trade Portal =====
trade_portal_overview.txt · Last modified: 04/27/2023 19:57 by gfactor

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