Qortal Project

The future of blockchain platforms

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trade_portal_overview [11/16/2022 11:41] – [Additional Notes] gfactortrade_portal_overview [04/22/2023 19:28] – [Atomic Swaps] gfactor
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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 =====+===== Atomic Cross-Chain Trades (ACCT)=====
  
-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.+With Qortal, we are swapping directly between blockchains, in a truly peer-to-peer fashion, with absolutely no centralized component between them (no middleman or any risk of counterparty risk). This is commonly known as 'atomic swaps' but this terminology is often misrepresented in the crypto space - therefore we call them their true technical name: Atomic Cross-Chain Trades (ACCT). True cross-chain swaps require multiple transactions to occur sequentially on each chain, and each of these transactions need time to confirm before moving 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 automated system that creates and executes placement of Atomic Trades (or 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.  
 + 
 +When a user lists a sell order, their QORT is removed from their wallet and placed in an 'AT' - which is a trade wallet that the user still has control over. The user can either cancel the trade order and have their coin returned to their wallet, or wait for a buyer to select the order at which time the buyer's coin is withdrawn from their wallet via a 'Tradebot' which makes the exchange with the Qortal AT, ensuring there is a clean exchange. 
 + 
 +Check out the [[Trade Portal FAQ]] page!
  
 ===== Additional Notes ===== ===== Additional Notes =====
trade_portal_overview.txt · Last modified: 04/27/2023 19:57 by gfactor

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