Komodo to Bitcoin Cash atomic swap performed

New technology was used to purchase Bitcoin Cash for Komodo at BarterDEX platform
18 December 2017   2999

Atomic swap technology was used successfully again, now with Komodo and Bitcoin Cash. 

During the atomic swap, the buyer used Komodo to purchase Bitcoin Cash. The deal took place on the BarterDEX platform and ended quite quickly. It is expected that BarterDEX and Komodo will play a significant role in the study and development of swaps.

Komodo is a digital asset that aims for privacy-centric ideals and hopes to provide more fungible blockchain transactions. The cryptocurrency uses a consensus mechanism called Delayed Proof-of-Work (dPoW) which is similar to bitcoin’s PoW, but also uses a block notarization method.

KMD to BCH Atomic Swap Report
KMD to BCH Atomic Swap Report

Users note that this kind of exchange between crypto-currencies is attractive enough. An important factor is the lack of verification necessary for exchange on centralized exchanges. The fact is that atomic swaps are conducted exclusively on decentralized exchangers.

Now it is not known how the swap will affect the overall Bitcoin Cash ecosystem. Some suggest that this crypto currency can become a permanent participant in atomic swaps, which, against the backdrop of BarterDex's plans to refuse support for Bitcoin, looks quite interesting assumption.

Karpeles to Face Another 10 Years in Jail

Japanese enforcements agencies blamed Mt. Gox CEO in stilling $3M
12 December 2018   94

Japanese prosecutors blamed the head of the already inactive exchange Mt. Gox Mark Carpeles in embezzling 341 million yen ($ 3 million) from a bank account trading platform. The prosecutors made the corresponding statement in the Tokyo District Court, demanding 10 years of imprisonment for Karpeles, reports The Mainichi.

[Mark Karpeles] diverted company funds to such uses as investing in a software development business for personal interest" and "played a great role in totally destroying the confidence of bitcoin users.

Japanese prosecutors

It is noted that in September-December 2013, the head of MtGox allegedly transferred funds to personal bank accounts, and then invested in the software development business.

Carpeles is also accused of faking the data of the trading system of the exchange for the fabrication of balance sheets.

The deadline for accepting applications from affected investors as part of the civil rehabilitation of Mt. Gox has been extended until the end of December.