Qortal Project

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trade_portal_overview [11/16/2022 06:35] – gfactortrade_portal_overview [11/16/2022 06:37] – gfactor
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 How can Qortal guarantee no theft can occur within the Trade Portal? Simple. The Trade Portal utilizes LOCAL wallets to make trades and true peer-to-peer trades. At the time of this publication, BTC, LTC, DOGE, DGB, RVN, and ARRR are natively supported. The DevTeam has taken extensive time to ensure that only LOCAL wallets are made use of and the keys for those wallets are never exposed in an unencrypted fashion. Therefore, the Trade Portal is just as secure as sending from a local wallet to another, except they are one chain to another. How can Qortal guarantee no theft can occur within the Trade Portal? Simple. The Trade Portal utilizes LOCAL wallets to make trades and true peer-to-peer trades. At the time of this publication, BTC, LTC, DOGE, DGB, RVN, and ARRR are natively supported. The DevTeam has taken extensive time to ensure that only LOCAL wallets are made use of and the keys for those wallets are never exposed in an unencrypted fashion. Therefore, the Trade Portal is just as secure as sending from a local wallet to another, except they are one chain to another.
  
-The Portal is a system that makes use of the ACCT system by the CIYAM developers (http://ciyam.org) with which to make completely cross-chain coin/token trades.  +The Trade Portal is a system that makes use of the ACCT system by the CIYAM developers (http://ciyam.org) with which to make completely cross-chain coin/token trades. The system currently allows for completely cross-chain trades between QORT and other coins so users NEVER RELINQUISH CONTROL OF THEIR ASSETS and never have to 'deposit' assets in order to make trades. This allows for COMPLETE SECURITY. Never again, will there be worry about centralized exchanges failing, and taking with that failure, users' assets.
- +
-The system currently allows for completely cross-chain trades between QORT and other coins so users NEVER RELINQUISH CONTROL OF THEIR ASSETS and never have to 'deposit' assets in order to make trades. This allows for COMPLETE SECURITY. Never again, will there be worry about centralized exchanges failing, and taking with that failure, users' assets.+
  
 As time goes on, and development progresses, support for more third party blockchain coins will be implemented into the system. Also, Qortal will provide a platform for projects to build on Qortal and have their own token, so those will be available to Qortal's users in the Wallets and Trade Portal features. A token is a digital unit of value that represents an asset or utility. Unlike coins, tokens do not have their own blockchain and are issued on top of existing networks. So to clarify, QORT is not a token - it is a coin. Qortal is a stand-alone blockchain, it’s native asset QORT is therefore a coin. Assets built on Ethereum’s blockchain are tokens, whereas ETH is a coin itself. Therefore, projects with their own assets that are built on Qortal will be tokens by definition.  As time goes on, and development progresses, support for more third party blockchain coins will be implemented into the system. Also, Qortal will provide a platform for projects to build on Qortal and have their own token, so those will be available to Qortal's users in the Wallets and Trade Portal features. A token is a digital unit of value that represents an asset or utility. Unlike coins, tokens do not have their own blockchain and are issued on top of existing networks. So to clarify, QORT is not a token - it is a coin. Qortal is a stand-alone blockchain, it’s native asset QORT is therefore a coin. Assets built on Ethereum’s blockchain are tokens, whereas ETH is a coin itself. Therefore, projects with their own assets that are built on Qortal will be tokens by definition. 
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 Votes in the system will be the primary factor as far as which new coins/tokens will be added, however, a vote is not a guarantee of listing, there will also be an independent verification done on the project pre-listing, to ensure only the most quality projects are listed in the Trade Portal. For now, we have two coins to provide a gateway to obtain QORT and the DevTeam can focus on other priorities. Votes in the system will be the primary factor as far as which new coins/tokens will be added, however, a vote is not a guarantee of listing, there will also be an independent verification done on the project pre-listing, to ensure only the most quality projects are listed in the Trade Portal. For now, we have two coins to provide a gateway to obtain QORT and the DevTeam can focus on other priorities.
  
-===== Atomic Swaps in the Trade Portal =====+===== Atomic Swaps =====
  
-With Qortal, we are swapping directly between blockchains with absolutely no central component between them. 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.+With Qortal, we are swapping directly between blockchains with absolutely no central component between them. This is known as 'atomic swaps'. 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.
  
-The Trade Portal functions by making use of an automation system that creates and executes placement of ATs on behalf of the private key of a 'logged in' account. The account's 'bot' (for lack of a better term) takes the trade data from the user, and issues a SmartContract (AT, ACCT AT to be exact) that then awaits input from another user, then picks up on behalf of both users, to execute a Cross-Chain trade. All that is necessary for the user, is leaving their core running. +The Trade Portal functions by making use of an automation system that creates and executes placement of ATs on behalf of the private key of a 'logged in' account. The account's 'bot' (for lack of a better term) takes the trade data from the user, and issues a SmartContract (AT, ACCT AT to be exact) that then awaits input from another user, then picks up on behalf of both users, to execute a cross-chain trade. All that is necessary for the user, is leaving their core running. 
  
 ===== Additional Notes ===== ===== Additional Notes =====
trade_portal_overview.txt · Last modified: 04/27/2023 19:57 by gfactor

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