Zcash develops atomic trades between Zcash and Bitcoin

Atomic trades remove the need for a single point of trust for trades between different cryptocurrencies
12 September 2017   859

Zcash team recently reported on the news about Atomic Trades development. 

We are excited to announce that we have been working on a command-line tool that executes atomic trades between Zcash t-addrs and Bitcoin addresses. Several people have come up with XCAT protocols. Loosely speaking, they all rely on a mechanism where for one side to obtain their coins, a secret must be revealed that will enable the second party to also redeem their coins. There are many variants of this basic idea.
 

Zcash team

The current version requires the user to run Bitcoin and Zcash full nodes, but a light-client version is in progress. 

What is Atomic Trades?

Cross-chain atomic trades (for which we have coined the acronym “XCATs”) remove the need for a single point of trust for trades between different cryptocurrencies. They rely on clever protocols that automatically exchange funds across two chains only if both participants hold up their end of the deal, and refund both participants otherwise. 

The problem of atomic cross-chain trading is one where (at least) two parties, Alice and Bob, own coins in separate cryptocurrencies, and want to exchange them without having to trust a third party (centralized exchange).

A non-atomic trivial solution would have Alice send her Bitcoins to Bob, and then have Bob send another cryptocurrency to Alice - but Bob has the option of going back on his end of the bargain and simply not following through with the protocol, ending up with both Bitcoins and the altcoin.

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   226

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.