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Reply To: Ethereum Possible?

dashed-slug.net › Forums › Full Node Multi Coin Adapter extension support › Ethereum Possible? › Reply To: Ethereum Possible?

June 19, 2018 at 8:20 am #3287
alexg
Keymaster

You will have to think about the problem of the accounting model vs the UTXO model.

Example:

  1. User A deposits 2 ETH.
  2. User B deposits 5 ETH.
  3. User A sends 1 ETH to user B. This transaction happens off-chain.
  4. Now user B should be able to withdraw 6 ETH.

The way the big boys solve this (Bittrex, Polo, etc) is that whenever you do a deposit, they give you an address that they control, then they transfer the money to a big centralized address (e.g. https://etherscan.io/address/0xfbb1b73c4f0bda4f67dca266ce6ef42f520fbb98)

This is why they won’t let you deposit less than a fixed amount of ETH or ERC20 tokens. It wouldn’t make economical sense.They probably pay for the transaction to the centralized address from their other profits, but I’m not sure.

For a small scale site one solution would be to charge a fee on deposits. If that fee covers the transaction cost then you can have all the funds in one address ready to withdraw. The coin adapter would have to do the transfers behind the scenes.

If you do end up implementing all of this please post a link to your adapter. I would love to link to it from this site.

best of luck

Alex