And now that I have yours...

There was an interesting cross blockchain experiment.

Trust more or less

A fellow Steemian, @ocdru, and I made blockchain history yesterday. Well, modest as we both are, we of course do no want to brag about it. But yeah, we did write history. And I will write it again: history. Because it is already in the past now. Okay, I will focus and get a wee bit more serious now. As we actually did do some blockchain crossing transactions.

Besides being Steemians, @ocdru and I are also WeKunians. It is the beauty of being free born humans moving about in a borderless internet. WeKu is a Social Media platform on a blockchain. Sound familiar? Yep, it is a Steem fork. Adding more freedom of expression on a DPOS {Delegated Proof Of Stake} based blockchain. And now we have a trinity: Steem, Golos and WeKu.

WeKu is still in its early beta. The signing up proces already had its bot attack. Why? Because it pays a 100 WEKU to become a member. That kind of back fired, unfortunately. At least three central control accounts abused the sign up system. Creating hundreds of new accounts, all in a days work, moving the bonus straight out to the bot controlling one. Goal? Building a reward pool draining whale before WeKu opens trade on exchanges, I guess.

Besides that though

Everywhere there is money to be made, there will be those who will try to rig the system. It is a fact of life that we all have to deal with at some point in our lives. Anyway, back to the fun part of WeKu, where history is being made, thanks to Steem. Because WeKu is still a kind of closed realm. There is no direct way to buy or sell WeKu, WeKu Power or WeKu Dollar, for instance. So when @ocrdu suggested to buy some Dogecoin, paying me with WK$, we saw great potential.

Two separated blockchains, no exchange available, how to do such a swap trade? Well, WeKu, just like Steem, it an absolute transparant public ledger. Dogecoin transactions are open too. And blockchains like Steem, Golos and WeKu can store information, for the public to see. Meaning all community members can be witnesses, once the transactions have taken place and were recorded on chain.

Semi trustless

Now @ocdru and I already trusted each other as Steemians. So doing this inter blockchain crossing trade was going smoothly and fast. Dogecoin is a fast and cheap POW {Proof Of Work} Crypto, that is why I use quite often. And well DPOS {Delegated Proof Of Stake} based blockchains are even faster than the speed of light. Therefore @ocrdu his WK$ even arrived backwards in time! Not really, he was just fast sending it, even before I was able to send the Dogecoin to the address he published in a WeKu reply.

Because we traded publicly using the WeKu blockchain for Proof Of Transaction {POT} every Wekunian would be able to act as a witness in case of a dispute. While I replied with the Dogecoin transaction hash, with a blockchain explorer link, @ocrdu already had send the WK$ to my WeKu wallet. Just like that, proof on both blockchains, recorded as a blockchain crossing transaction on WeKu. And this could work for Steem and Golos too of course.

Big deal?

Well, yes, even if it was a small amount, it was kind of a big deal. A Blockchain crossing transaction, done semi trustless. Today I send some more Doge to his address to set the price for WeKu$ equal to 1 USA$ (166.67 DOGE). Therefore setting the base price for WeKu at 1 USA$ too, as they are converted 1:1. And with this @ocrdu and I proved the concept that it is possible to exchange value with a system that has no trade on exchanges yet. By making use of an unique blockchain system that can store information and make it publicly available. Kind of making the cross chain transaction semi-trustless.

Maybe @ocrdu and I tried to kick in an already open door. Or maybe there was blockchain history made on a Steem spin off blockchain fork. At least I found it exciting fun and already started to think about a protocol that could be semi-automated. With a major role for Steem alike blockchains. Now where do I have some more Cryptos to swap...

May the Cryptos be with us!

An inter blockchain crossing trade was made

Image CC0 license courtesy of Sarah Richter Art.