I don't see any HIVE evangelistas commenting when I write about my cryptocurrency getting wrapped tokens for Ethereum and Tron... People could easily make wrapped versions for Steem, Hive and Blurt too...
Last night we deployed first version of the contract on Tron test network... A lot of stuff is still missing but having the contract online allows us to start writing and eventually field testing the bridge code...
Yea well HIVE isn't quit firing on all cylinders. Hopefully it will be at some point.
I'm pretty much 2/3 done with wrapped token of my own cryptocurrency on Rinkeby testnet for Ethereum... As I get more of the code done, my team can reuse the code for TRC20 (Tron) wrapped token...
Wrapped coins are great, if there's demand for it. Steem and HIVE both launched wrapped versions but no one used them or needed them.
I got contacted even before I wrote the wrapped coin... Basically they wanted to license the bridge code for their own project ;)
Yea but I mean market place demand... is there any volume?
I'm not going to list it on regular exchanges... It will be coupled with other bridges so people can swap wrapped tokens between smart contacts...
Basically each cryptocurrency has wallet address on own chain and the smart contract platform... destination address is transcoded in the transaction and contract metadata.
Currently we are using both Bitcoin-compatible base58 transcoder and 6-bit transcoder that has two bits for upper and lower case letters, basically extended hexadecimal already used in Ethereum checked addresses. Using proprietary 6-bit encoding requires less code and time than full base22 transcoder (0-9, a-f. A-F).
I see. Why not list on regular exchanges?
Because a lot of exchanges have really strict listing requirements... I have sent quite many listing requests and after almost a year, my currency is still listed on one exchange...
If we bridge enough cryptocurrencies, we increase exponentially the chance that one of the currencies is listed on active enough exchange.