8 posts tagged with "bitcoin"

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XMR-BTC Atomic Swap - PoC to Prototype

Our mission is to connect all the blockchains, without adding yet another one. Our vision is that we believe in a censorship-resistant & non-discriminating open financial market for everyone.

Bitcoin is the major player in the decentralised financial ecosystem but has a traceability issue, stopping it to be truly censorship-resistant & non-discriminating. Monero is a privacy focused coin, it is fungible and non-traceable and the most used privacy coin [1].

These characteristics make XMR-BTC cross-blockchain applications a great candidate to push towards our vision.

Fail⬅️⬅️⬅️⬅️Learning faster


We recently released ambrosia, a GUI allowing BTC to DAI peer-to-peer and non-custodial trading powered by COMIT. This release marked our change of focus from providing tools to developer to directly targeting end users.

We spent the last weeks demonstrating this MVP to several users, we had interesting feedback and conversation with various user profiles, from trader to hodler.

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.

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 🤓

A closer look on Bitcoin scripts

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Satoshi Nakamoto

When I started at CoBloX a few weeks back, I faced a steep learning curve to master the RFC documenting the SWAP-Basic protocol. It's been almost a year that we published our original blog post. It described how HTLCs work and how they can be facilitated for atomic swaps between two blockchains. However, this blog post lacks the explanation of the Bitcoin HTLC, i.e. how the stack-based scripting language allows us to create HTLCs on the Bitcoin blockchain. Within this blog post I want to follow up on CoBloX's original promise:

To bring back knowledge and learnings back to the community.