Accepting Bitcoin on a Multichain Node?

Question

Hey fellow devs,

Is it possible to roll with a Multichain-styled blockchain and send Bitcoin to a wallet address on a node running this chain? Any possible way to do this? I am hesitant to deploy a native coin becuase of speculative values and would like to run with bitcoin to pay services on the chain.

If not, I will just use a thirdparty like Coinbase, a local bitcoind, etc, and listen for a callback in my code before deploying a users asset to my chain.

Answer 1

You can use MultiChain as a node on the Bitcoin network, but that MultiChain instance won't be running a separate chain simultaneously, so you don't gain anything in terms of what you want to achieve. The whole idea of transferring assets directly and instantly between chains isn't really possible. But if you're willing to set up a process to be an intermediary, you can definitely have it send out coins on one chain in exchange for receiving them on another, and vice versa. Also see: https://en.bitcoin.it/wiki/Atomic_cross-chain_trading

Comments

Thanks for the ideas. I like the proposals in the document, but seems a little wonky. Going to go the route of a custom third party service.