I want to know how Bitsquare uses the Tokens, I see for example OpenLedger have tokens for altcoins like LISK or Ethereum tokens, I want to know how can bitsquare validate those markets, and how is it influenced into the market visaulization.
Bitsquare doesn’t use tokens. Altcoins are transferred from trader1 altcoin wallet to trader2 altcoin wallet.
I don’t seem to understand the second part. I think the first reply might answer that one as well, as it’s a follow-up question.
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you are right, I was thinking on OpenLedger which do use Tokens. I wonder if Bitsquare interaction with wallets, like Coinomi, I see the UI you have bitsquare wallet, is this only for BTC or altcoins as well? Do bitsquare search for transactions to validate a trade?
image for UI
The Bitsquare client has an integrated bitcoin wallet.
All other cryptos are handled outside from Bitsquare with the regular altcoin wallets.
The Bitsquare client does not check if the altcoin transfer has happened, that’s all handled by user interaction. For example you just click 'confirm*, ETH transaction sent, and ‘confirm’ ETH transaction received.
So you will need to have all the wallets wtih allt he blockchains for allt he cryptos you want to trade?
Isn’t that a bit inconvenient for users?
Ever thought about having a SPV wallet for the altcoins?
BTW is the bitcoin wallet also holding the 60GB blockchain?
The BTC wallet is SPV so no 60GB download…
To add support for altcoin wallets would be great to have but it comes with either much engineering effort and resource challenges or would introduce centralised elements (server model).
