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Does Qubic Support Value Transactions?

by microhash - (edit: )

A very important feature of smart contracts are actions like: "If a certain event E happens, send this custom value transaction!" How could this be realized with Qubic?

It appears to me that the data flow of a qubic works like this:

  1. read input data out of existing transactions
  2. process the data
  3. write the result data back into the tangle

Therefore the output is limited to data transactions only. Does anybody have any idea/workarounds how something as simple as a decentralized and trustless fund holding a locked up balance (as we see on other smart contract platforms) could be implemented with Qubic?


by microhash - (edit: )

from paul douglas, today on discord:

> how to send value of any sort with a qubic"

the answer depends on the author. It could be a simple as publishing a specific message type with a digital signature. Or multi-mode/multi-factor authentication, some form of neural network recognition, fuzzy logic, etc., could be created.

it could be made to be private as well, if one is adept at homomorphic encryption. or if one is otherwise clever

the oracles simply come to quroum on ordering and validity

can anybody explain?

by microhash - (edit: )

from eric hop, today on discord:

You may want to read about Voting Pools.
http://opentransactions.org/wiki/index.php/Category:Voting_Pools
I've worked on the project before and the way it works is that you put assets into the pool and you get an unfogeable receipt. A quorum is needed in the voting pool to be able to transfer assets out based on receipts. Assets are transferred within the pool based on receipts. The get deducted from one and added to another. Afterwards both parties receive a new receipt and the older ones become invalid. At any point a party can get his assets back out, but only if quorum agrees.
Your receipt could actually be a basket of many different currencies.
Which allows for exchange functionality between parties. All they need is to agree upon the price between thenm to be able to let an amount of asset X change hands in exchange for asset Y.

Maybe this is relevant as well?

by microhash - (edit: )

lunfardo - Today at 5:09 PM

Thinking about different use cases and wondering how it would be implemented in Qubic. Not sure about some things.

As I understand qubic's results will be wrapped into normal 0 value transactions (is it so?) Then will qubic (Abra code) be able to create normal IOTA transactions directly (lets say value transfer)? (my guess no).

@Eric Hop

Eric Hop - Today at 5:13 PM

No. Qubics can send pegged tokens. But not the tokens themselves. There will be oracles that provide this service probably.

Remember that to be able to send tokens you need to provide a public key. Or worse, a seed.

by microhash - (edit: )

Qubic Lite will allow token transfers through smart contracts on a higher layer token protocol called TOQEN. What is possible on Qubic Lite, might also be possible on Qubic but would require an additional simulated token as opposed to the native IOTA token (concept).


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