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wegfox

Atomic Swap it's possible on IOU's?

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On-ledger yes, for example against BTC/Bitstamp.

Against native BTC you'd probably need to lobby for the inclusion of the Checks amendment or (better) for enabling IOU-Escrows.

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So to make an exchange with the native currency against fiat, the best solution would be to create an ERC20, than to make an IOU'S? Here we had the Rippex that issued BRL, now we have a gateway with little liquidity, and when seeing so many projects with atomic swap, I thought it was an exit the exchange between the native currencies and the IOUS, would increase the liquidity because at least we would not need have all the gateways of all exchange coins

 

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You sound confused and I'm not sure I understand you.

I'm talking about https://developers.ripple.com/issued-currencies.html - this has nothing to do with ERC20. Please describe what problem you actually want to solve (maybe with an example, like "Alice has 100 BRL physically as cash in her hand and wants to trade them for USD/Bitstamp on XRPL") and please consider that I'm not native in English so please be a bit more verbose. :-)

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Sorry, I'm not native in English to,

 

But my doubt would be the exchange between the blockchain, IOU's (RCL-Ripple) vs BTC (native), but reading here, I saw that the best solution for switching from a Fiat(representation) to atomic swap would not be by creating IOU's in RCL.

 

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10 hours ago, wegfox said:

Sorry, I'm not native in English to,

 

But my doubt would be the exchange between the blockchain, IOU's (RCL-Ripple) vs BTC (native), but reading here, I saw that the best solution for switching from a Fiat(representation) to atomic swap would not be by creating IOU's in RCL.

 

That is not possible atm. 

Maybe with CODIUS and smart contract some more possibilities will open in the future.

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You can issue arbitrary currency within the XRP Ledger. Those issued currencies/IOUs can be atomically swapped with each other and with XRP, within the XRP Ledger.

Swapping from a currency's native form (whether it's a fiat, crypto, or whatever) to the issued currency in the XRP Ledger (or the other direction) is not atomic. The Interledger Protocol's purpose is to make it safer to swap currencies across a ledger boundary like this, but Interledger's atomic mode was removed from the public spec because it still required participants to agree on quite a few things.

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With something like Escrow for issued currencies/IOUs it should be possible to implement simple forms of atomic swaps though, but this is not implemented at the moment - both Escrow and PayChan are XRP exclusive.

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Yes, in the case I understand how the exchange inside the ripple network works, there is use for about 2 years, including actively when there were still BRL IOUs, but seeing so many projects involving atomic swap around, gave me that curiosity. 

But that projects that can form something the XRP, goes something in the future.

 

I appreciate the answers and I'm sorry for my bad English.

xrp.png

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