Trade Bitcoin and DAI with COMIT

A Change of Direction

Last year, we spent time and effort creating tools, such as create-comit-app and comit-scripts to allow developers to build their own COMIT Apps. We organised local meetups in Sydney and even a hackathon in Singapore. We had a number of developers excited about the technology and possibilities that COMIT bring in but very few committed to build an app.

We now realize that before we can expect others to build successful apps with our tools, we should demonstrate what can be done with COMIT ourselves.

Monero-Bitcoin Atomic Swap

Over half a year ago we proved that Grin-Bitcoin atomic swaps were possible and now we're back to show you how it can be done for the monero-bitcoin pair. In our effort to connect all the blockchains without adding yet another, we have turned our attentions to Monero. Similar to Grin, Monero is a public ledger in which the source, destination and amount of a transaction remain hidden to observers.

The team has been interested in Monero for a long time, but until recently we assumed that atomic swaps involving it were unfeasible due to its lack of support for timelocks.

Designing GitHub workflows for automated releases

Applied in the right circumstances, using GitFlow as your branching model can make life significantly easier. The COMIT team decided to adopt GitFlow for comit-rs quite some time ago because it allows development to continue while a release is in progress, hence removing friction from our development flow.

This post gives a quick overview of how we are using GitHub actions to automate most of the aspects around drafting releases.

Setting up a ☁️ Bitcoin Full Node

Just do it!

Shia LaBeouf

In 2020 it is still hard to find quality instructions on how to run a bitcoin full node in the cloud. In this tutorial we want to share how it can be done in a somewhat time- and money-efficient way.

The tutorial steps you through the setup and some of our considerations how to achieve the initial sync in a reasonably fast way without depending pre-synced environments. We are offering recommendations, not guarantees. There is always potential to optimise - feel free to submit an improvement PR for the post πŸ€“

April, 2020 - Dev Update

It’s difficult to make predictions, especially about the future.

Niels Bohr

Are we on the verge of plummeting into the biggest recession since the big crash of 1929? And if so, are cryptocurrencies the answer, a safe haven to put your money in?

While we cannot look into the future and don't dare to predict it, we are inclined to believe that we are likely to see a high demand for crypto in the future, and an even higher one in the next few months. Time to get COMIT out there so you don't have to trust those central exchanges, but keep your private keys where they should be: in your wallet. Verify, don't trust!

Join us for a discussion around advances in crypto, trustless trading and - as usual - various tech related topics in next week Thursday's COMIT Community β˜•οΈ - 7pm Sydney time!

March, 2020 - Dev Update

The sky is everywhere, it begins at your feet.

β€” Jandy Nelson

Join us for today's COMIT Community β˜•οΈ 7pm Sydney time, or listen in on youtube!

On today's community coffee we will reflect on the first quarter of this year with a focus on Lightning Network (layer 2) integration into COMIT. We will discuss technical challenges we encountered. Furthermore, we will discuss what we are planning to tackle in the second quarter, including decentralised order-book solutions.

February, 2020 - Dev Update

Trust starts with truth and ends with truth.

β€” Santosh Kalvar

Join us for the next COMIT Community β˜•οΈ on 02.04.2020, 7pm Sydney time, or listen in on youtube!

In this blogpost we first want to HALight - ahm, highlight - the recent effort to design and integrate the new protocol that adds Lightning to COMIT. COMIT consists of cryptographic protocols and communication protocols. Cryptographic protocols are currently defined as HAL, HErc20 and HALight - where HALight is a new protocol that defines atomic swaps using the concept of hold-invoiced in lnd. With the support of Lightning we come one step closer to supporting instant atomic swaps in COMIT.

January, 2020 - Dev Update

Seek First to Understand, Then to Be Understood

β€” Stephen Covey

One could wonder at first how this quote applies to what we are doing at CoBloX.

While Stephen Covey's literature focuses on self-improvement with a justified emphasis on inter-personal relationships, I believe anyone who builds a product, platform or protocol for others, should also live by this quote.

We, at CoBloX, are building COMIT as an open-source protocol for anyone to leverage the power of atomic swaps in their own software. If we do not seek to understand first then how can we build something useful to you?

December, 2019 - Dev Update

Technology, like art, is a soaring exercise of the human imagination.

β€” Daniel Bell

December, the silent time of the year, was not that silent for us. By the end of November the CoBloX team was flying out to Singapore for Christmas at the TenX office. We had a wonderful time in Singapore meeting up with colleagues from all over the world.