I spent sometime protying the steem2btc swap, however, I found out it may not be feasible because:
Higher fees
at the time of testing, the estimated fee is about $20.
{ feerate: 0.00031208, blocks: 10 }
And the fee also depends on the transaction sizes. That means, if a wallet has a higher number of transactions/UTXOs, then the fees will be higher.
Complexity in Get Balance
The fundamental model in BTC is UTXO (Unspent Transactions), so it is not trivial to get the balance of a BTC wallet. We have to get the all UXTOs and add them up.
Complexity in Send Raw Transactions
Because of UTXOs, sending transactions on bitcoin becomes a bit complex.
Longer confirmation time
6 blocks, usually 1 hour or more.
Steem to the Moon🚀!
- You can swap the STEEM/SBD to SOL Solana via steem2sol!
- You can swap the STEEM/SBD to ETH Ethereum via steem2eth!
- You can swap the STEEM/SBD to Tether USDT (TRC-20) via steem2usdt!
- You can swap the STEEM/SBD to TRX (TRON) via steem2trx!
- You can swap the STEEM/SBD to BTS (BitShares) via steem2bts!
- Register a free STEEM account at SteemYY!
- Steem Block Explorer
- ChatGPT/Steem Integration: You can type !ask command to invoke ChatGPT
- Steem Witness Table and API
- Other Steem Tools