With The Imperial March playing in the background, a spiffy Dr. Craig Wright made his entry onto the stage at the inaugural CoinGeek Conference in Hong Kong. Then the party—atomic-style—started.
Wright, chief scientist of nChain Group, one of the influential tech groups leading the development of Bitcoin Cash, talked about atomic swaps, and how these will enable inter-blockchain conversion between different cryptocurrencies on the Bitcoin Cash blockchain.
In March, Wright mentioned that he can drive exchanges to the ground, hinting at a patented technology that will be made available free for all users. Fast forward to last Friday, when he finally divulged more details about the technology called atomic swap.
“I don’t just mean swapping secrets. I mean we can embed key exchanges and you can pre-sell Ethereum, pre-exchange Dash, and using Bitcoin Cash, you can exchange them—100% safe, 100% secure,” Wright said.
In response to concerns about the competition between blockchains and other cryptocurrencies, Wright said Bitcoin Cash is about “to subsume them” with the patented technology.
“We’re going to make them a Bitcoin Cash sidechain,” he said. “It’s only ever going to run on Bitcoin Cash. We are going to make Ethereum a side chain for Bitcoin, if people want to use it. And we are going to make Bitcoin Core (BTC) a side chain to Bitcoin Cash.”
Wright also invited developers and project starters to build on the technology, which opens a whole world of possibilities for development of the Bitcoin Cash blockchain.
“In the next months, we’re going to start teaching you how you can not only tokenize basic things—we’re going to do the promise of Bitcoin. We are going to get common shares with dividends, with voting rights,” he said. “We are going to allow you to make a registry that can never be deleted, can never be lost, can never be hacked, can never be subsumed, taken, or stolen by a government, by an individual. That’s what Bitcoin should be about—that’s what we’re going to help you build.”
Watch Dr. Craig Wright’s presentation at the inaugural CoinGeek Conference here:
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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