“ Basically, we are going to be looking at a way to move from $HIVE directly into bitcoin. What gets even more exciting is the prospect of being able to swap HBD for $BTC.“
Doesn’t this already exist? Brian of London solved this didn’t he?
Will he be a part of this upcoming announcement? Or this is separate thing?
Either way sounds super interesting as someone who’s always thought Bitcoin & Hive are both complements to one another! Cheers 🍻
v4v is an exchange that provides an interface between HIVE/HBD and BTC LN. It is not a wrapping system and doesn't allow for ownership of BTC on Hive itself. What this will enable is the ability to actually hold wrapped BTC on Hive. In the addition it opens up the potential for DEXs that allow more direct means of exchange.
Regardless, v4v will play an important role in providing an exchange point for this wrapping system, but it is not the wrapping system itself.
Thanks for the clarification on that.
He does it through Lightning Network. This can be thought of as a competitor to Lightning in terms of being infrastructure.
And it’s going to be decentralized? Pretty interesting indeed!
Exactly
Yes Brian solved this in some way. Sounds like this may be a next step bigger way. 🐸
It is a sidechain with BTC wrapped on a Hive based sidechain and settle on Hive.