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Update docs/liquid/liquid-part3.md

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b0xxer 2024-02-06 07:18:54 -06:00
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@ -20,15 +20,13 @@ If we start thinking like a developer for second, this implies many things to bu
Sure, Stacker News could just do all this themselves using SQL, but lets assume that since they were clever boys & girls, they wanted to do as little of the hard work as possible.
Liquid would make a great solution for this case. They could simple direct their users to download one of the existing Liquid wallets[^1] and use the Liquid sidechain as the "accounting system" for their asset.
## Atomic Swaps
In this case, let's suppose our Customer has earned 1 SND token (which for our purposes is our pretend airline mile token) and now he wants to exchange that for L-BTC. How do we do that?
Liquid would make a great solution for this case. They could direct their users to download one of the existing Liquid wallets[^1] and use the Liquid sidechain as the "accounting system" for their asset.
We could build some type of typical web-stack of NodeJS / SQL that would accept Asset A and then issue Asset B once received...however as we said our StackerNews crew is smart and therefore prefers to do *less hard work*. Moreover all of the above lends itself to risk of fraud and counterparty default.
Suppose our Customer has earned 1 SND token (which for our purposes is our pretend airline mile token) and now he wants to exchange that for L-BTC. How do we do that?
Luckily, due to the additional OPCODEs in Liquid, Atomic Swaps are supported[^2]. In fact, [Blockstream has a tool](https://github.com/Blockstream/liquid-swap) to simplify using it[^3].
Luckily, in Liquid, Atomic Swaps are supported[^2]. In fact, [Blockstream has a tool](https://github.com/Blockstream/liquid-swap) to simplify using it[^3].
To do a swap we will need another wallet, as you can't swap between the same wallet (technically you can use the *same node* and use 2 different wallets on that node[^4]). In my case, I have 2 nodes each running their own `elementsd` server (Umbrel and my desktop). So I will use those, but you can use a single node by setting up multiple wallets and using distinct URL connect strings for each.