Sorry if it’s a stupid question,
But I still don’t get how I could sell an altcoin, like BTC, to another person via safex.
I think there has to be a way to send to his BTC address.
How would safex solve this problem? is safex the man in the middle on the transaction who receives my selling coins and deliver to the buyer?
What I would do is:
Here is an example:
- sign a bitcoin transaction
- fill out a safe contract demanding a password
- save it to the safe network
- someone finds it and reads: put password here _____ if you do you get 1 bitcoin
- person puts the correct password, and decrypts the encrypted transaction
- they can now spend that transaction and send it to themselves by broadcasting it
It’s a rough sketch, looking at how bitcoin mining works -> people can give themselves coins by solving the hashing function;
Since Safe Network is real-time we dont need to proof of work, just need to check signatures.
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