On the 21st of September, a member of the digital currency subreddit platform r/BTC – Hop13 – made a post about creating a bridge between Ethereum Classic (ETC) and Bitcoin Cash (BCH) through a cross-chain system. Hop13 titled the post
“Working Cross-Chain Bridge: Pay in Bitcoin Cash – Receive Ethereum Classic (ETC) Dividend Token in Return.” The post of Hop13 reads “I have been experimenting with Bitcoin (BTC) and connecting it to Ethereum Classic (ETC), and I have created a cross-chain system in which users can donate with Bitcoin Cash and receive an ERC20 token that pay dividends based on other transactions on the network.”
Bitcoin Cash (BCH) Price Today – BCH / USD
Name Price $8,864.34 2.31% $359.16 10.57%
In the blockchain world, cross-chain transactions are transactions that provide the facility for two different digital currencies to be transacted in a single system. For example, a user can send Bitcoin Cash (BCH) and receive another digital currency in return.
Hop13, who initiated the cross-experiment for BCH-ETC, also asked the community to possess an Ethereum Classic (ETC) wallet known as Saturn Wallet. He also instructed them to disable MetaMask on the wallet. For more information about MetaMask check out this post by smarttest.wpmudev.host.
Also, he encouraged the community to donate any amount in Bitcoin Cash (BCH) to test the working efficiency of the system he built. On sending Bitcoin Cash (BCH), the donor was said to receive a token in return after the donation was confirmed by the recipient. The total time for the entire process is 15 minutes.
Ethereum Classic (ETC) Price Today – ETC / USD
Name Price $8,864.34 2.31% $11.74 40.17%
Hop13 also talked about the underlying approaches of the cross-chain system. When the “money button” on Saturn Wallet is used, the transaction ID and the in-browser Ethereum Classic address of the user is sent to the server of the recipient. Next, the transaction will be verified by the server on the blockchain of Bitcoin Cash (BCH) and sends the corresponding amount of tokens after confirming the validation of the transaction.