I am trying to replay the sequence of actions for DvP in more layman terms. Can you please help and confirm if my interpretation is correct ?
Locks the asset-1 to be transferred from Party A. Uses Party A’s private key and generates a txn-id
Creates a bid/ask offer with the txn-id and equivalent asset-2 quantity to be received. The public key address is also enclosed.
On second node (counterparty)
Locks the asset-2 equivalent from Party B. Uses Party B’s private key and generates a txn-id
Accepts/confirms “Offer” from party A in exchange for asset-2 locked above.
Notification to mining nodes to update the blockchain with the transaction and the balances. Public key/signed Private key of both the parties are embedded in the block.
Can you explain what is happening in appendrawexchange in more Bitcoin jargon?