Multicoin Wallet To Allow More To Buy Into Decred

Discussion in 'Incubator' started by lewildbeast, Jun 26, 2017.

  1. 2017/12/15 - Decred v1.1.2 released! → Release Notes  → Downloads
  1. lewildbeast

    lewildbeast New Member

    Feb 12, 2016
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    Anaesthetist
    Thank you to all the hard working devs and people on these forums.

    One of the main problems with buying into cryptocurrency are the exchanges. Lots of rules exist to prevent money laundering when changing fiat to crypto or vice versa. The issue of moving between one crypto currency to another once one has a foot in the door is not too significant in my experience. This has got me wondering why nobody has come up with a decentralized exchange...

    Assume a modular wallet supporting two cryptocurrencies did exist, the next logical step be allowing it to function like a decentralized exchange (for cryptocurrencies only) where the user could specify the exchange rates between the two currencies. If we had a Decred/Bitcoin wallet, the number of people that would have access to our cryptocurrency would suddenly increase which can only be good for our cryptocurrency in the long term.

    Thoughts?
     
  2. Kandiru

    Kandiru Member

    Feb 21, 2016
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    87
    Do you mean https://www.exodus.io/ ?

    The Exodus wallet is a multi-coin wallet which lets you exchange currencies using shapeshift. It's not a decentralised exchange, but that will require the Lightning Network to be active on all the coins.
     
    lewildbeast likes this.
  3. drunkenmugsy

    drunkenmugsy Sr. Member
    Advocate (Reddit)

    Dec 28, 2015
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    Exactly. It is my understanding that lightning network will facilitate this type of decentralized exchange for all coins that implement lightning network. It would make sense that a wallet capable of this would have to support all coins or at least several lightning net coins to be useful.
     
  4. lewildbeast

    lewildbeast New Member

    Feb 12, 2016
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    Anaesthetist
    Thanks Kandiru, that sounds like what I had in mind!
     
  5. jcv

    jcv Full Member
    Developer

    It will be interesting as more coins support lightning network,
     
  6. Dimumba

    Dimumba New Member

    Dec 8, 2017
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    London

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