Public beta release of Coinswap, a protocol for decentralized bitcoin swaps \ stacker news ~bitcoin

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Public beta release of Coinswap, a protocol for decentralized bitcoin swaps github.com/citadel-tech/coinswap/releases/tag/v0.1.0

1425 sats \ 8 comments \ @k00b 9 Jan bitcoin

The protocol aims to be a decentralized version of centralized swap services like Boltz. The architecture is client-server, taker-maker, respectively, and parties put up fidelity bonds to prevent fraud. I found the intro docs helpful. One thing I didn't find very easily is how takers discover makers, but maybe that will just happen out of band similar to the way nostr client have some seed relays.

It's currently only on testnet4. Protocol specs are here.

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136 sats \ 1 reply \ @0xbitcoiner 9 Jan

..., and parties put up fidelity bonds to prevent fraud.

This is a different ball game. I can't say if it's an upgrade or a downgrade!

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18 sats \ 0 replies \ @k00b OP 9 Jan

Upgrade if censorship resistance matters, downgrade if it doesn't.

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15 sats \ 1 reply \ @siggy47 9 Jan

I like this. Maybe in the long run it will be a bit of competition for Boltz. It will likely suffer a bit from lack of convenience, like all decentralized tools.

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41 sats \ 0 replies \ @toejam 9 Jan freebie

I hope, we need more options.

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12 sats \ 1 reply \ @02ad8239c2 10 Jan

on a side note, i'm still wondering if chris belcher, whose teleport transactions this is a fork of, was injected back in 2021/2 - his work diary claims 'long covid' to be the cause of the blood problem that stopped him working, but the description of the clotting of his blood seems anecdotally closer to some of the needle stories of late.

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0 sats \ 0 replies \ @k00b OP 10 Jan

the needle stories of late

I'm unfamiliar with these stories. Is it the covid shots given without aspirating?

the description of the clotting of his blood

For anyone else that needed the reminder: #222675 (post from over a year ago with not much discussion)

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30 sats \ 1 reply \ @SwapMarket 9 Jan

Boltz swaps can already be run in a decentralized way and no cheating is possible. Being a maker takes substantial time and resources. But in theory any decent lightning node can become one.