At the December 7, 2018, TenX Summit, a group of developers showcased an industry first: an atomic swap between a non-native asset, TenX’s PAY token, and a native asset, bitcoin.By non-native, the team is referring to an asset/coin that is not the base currency for the network. For Ethereum, for example, the native asset is ether, while any token that is built on the protocol is considered a non-native asset. CoBloX, a TenX research and development lab, is responsible for the achievement. Demonstrating their work to a tightly packed audience of summit goers, the team used the Lightning Network and their proprietary software COMIT to swap 10 PAY for 71,240 satoshis. The team published a blog post on December 12, 2018, to confirm the news and satify what it calls “the gossip factory” of he-said-she-said following the summit. In the post, the team delves into their process, explaining outright that this swap was not as simple as the first-ever ether and bitcoin atomic swap they tested nearly six months ago. Whereas this swap’s hashed time lock contract (HTLC) only required a single use smart contract, the PAY to bitcoin swap took an extra step. Reason being, the PAY token itself is managed with an additional smart contract known as the transfer ownership function. Because of this, the HTLC had to be separated into two transactions: one to deploy the swap contract and another as a transfer call for the PAY ...
