Closed owocki closed 4 years ago
Issue Status: 1. Open 2. Started 3. Submitted 4. Done
Work has been started.
These users each claimed they can complete the work by 6 months, 2 weeks ago. Please review their action plans below:
1) writeprovidence has started work.
i will be glad to make my contributions on this issue.
Learn more on the Gitcoin Issue Details page.
2) hardlydifficult has started work.
I'm researching BTCRelay now. At first glance this seems like a great addition for Gitcoin.
I have experience with writing Smart Contracts and Dapps, after researching this I'll put together a report as requested.
Learn more on the Gitcoin Issue Details page.
3) rahulpat has started work.
I will be researching on BTC Relay as suggested and understanding how the gitcoin codebase works. Being a newbie to the blockchain world/gitcoin world this task is a good starting point for me to understand integrations.
Learn more on the Gitcoin Issue Details page.
Gitcoin.co BTC Support Using BTC Relay Bounty funders deposit Bitcoin into escrow held by Gitcoin. Using BTC Relay, the deposit can be proven inside Ethereum using a smart contract call. Once a bounty is complete, or if it expires and should be refunded, the smart contract can track Gitcoin’s commitment until the final payment is sent and proof provided to Ethereum by way of another smart contract call.
Flow:
processTransaction(bytes rawTransaction, uint256 transactionHash) returns (int256)
Once the bounty has been completed:
Notes:
Alternative:
General thoughts This may be a nice addition, but it does not sit well knowing that Gitcoin has complete control over the escrow funds. This proposal mitigates that by creating a record of Gitcoin’s commitments which can be validated by anyone.
Another technology to consider may be Rsk which allows for smart contracts using pegged Bitcoin. That may allow for a trustless solution.
Issue Status: 1. Open 2. Started 3. Submitted 4. Done
Work for 100.0 DAI (100.0 USD @ $1.0/DAI) has been submitted by:
@owocki please take a look at the submitted work:
Hello@owocki this is the link to the research report about bitcoin funding on gitcoin.
tghanks! im very excited about this. will review it soon
This is awesome... Thank you!
At this point, Gitcoin is responsible for payment.
I wonder if there is a way to do this without Gitcoin holding the Bitcoin private keys. There's legal considerations here as we are not a money transmitter.
Another technology to consider may be Rsk which allows for smart contracts using pegged Bitcoin. That may allow for a trustless solution.
This could be a possible scenario that'd be really exciting for us. From what I undrestand, RSK allows solidity contracts to be deployed to it; so we could perhaps submit StandardBounties to their blockchain.
Though I wonder what kind of web-wallet we could use for RSK.
@writeprovidence any chance youre interested in implementing this ? :):)
I wonder if there is a way to do this without Gitcoin holding the Bitcoin private keys. There's legal considerations here as we are not a money transmitter. Under alternatives I mention you could have the funder pay the hunter directly. This means you never hold onto funds. We won't be able to prevent the funder from spending the funds on something else while the hunter is hard at work... but we could at least validate the funder's account holds enough BTC before the bounty is accepted. Still... a risk to hunters.
@owocki yes.
@owocki Hey so I wish you ALL of the luck on this project!! I went down this road and I tried so hard. I tried so so hard and after all of my research I found the same thing.... somebody has to hold or manage some BTC private keys on the Ethereum side and a smart contract cannot do that. Maybe BTCrelay is an option, I am not sure.. It seems dead for the last 180days.. no Tx on smart contract. It seems impossible to do in a totally decentralized way thus defeating the purpose and you may as well use Coinbase or something, a centralized bridge. Maybe it can be done with unreleased future technology.
In any case, you CAN use a bitcoin-like token on Ethereum as an ERC20 token. It is a pure-mined token and it uses the SHA3 hashing algorithm. Every single token had to be PoW mined and everyone can verify this by reading the smart contract. It is already very popular (not as popular as bitcoin) but it has a big following now and Gitcoin finally accepts it, it works on Gitcoin for bountys. SO its basically like Litecoin but as an ERC20, if that makes sense.
Therefore this is a partial solution to your problem, maybe a complete solution to your original goal. The ERC20 token is called 0xBTC and right now about 3m of 21m have been mined. The difficulty automatically adjusts exactly like BTC and it is currently mined using CPU and GPU since ASICS have not been developed for it quite yet.
https://etherscan.io/address/0xb6ed7644c69416d67b522e20bc294a9a9b405b31
https://0x1d00ffff.github.io/0xBTC-Stats/?page=stats&
You can start mining it if you have a GPU, one pool is http://mike.rs and another is http://tokenminingpool.com
This is an 'analog' for Bitcoin so it does not share the same ledger or Genesis block but it is 100% operational and working on Ethereum today and it is pure mined and ERC20 compatible.
thanks @0xbitcoin --- checking out 0xBTC now
Issue Status: 1. Open 2. Started 3. Submitted 4. Done
The funding of 100.0 DAI (100.0 USD @ $1.0/DAI) attached to this issue has been approved & issued to @hardlydifficult.
@owocki Just came across lddex which sounds promising. It could allow for a trustless solution, and would be a much easier integration than using Rsk.
this is interesting; i wonder if theres a way to manage the volatility of ETH (vs BTC) after the exchange
I'm happy to dive deeper on this if you are interested in doing another bounty ;)
@hardlydifficult what do u think the deliverables would be there
Same as above, outline the integration flow and point out any pros or cons that stand out.
User Story
as a user, i want to fund development work with bitcoin, because bitcoin is my preferred crypto currency
Why Is this Needed
Summary: bitcoin is the #1 crypto in the world
Description
Type: feature
Current Behavior
no bitcoin funding
Expected Behavior
research report about bitcoin funding on gitcoin
Definition of Done
this is a research task.
the expectation for this bounty is that whomever turns it around has taken the time to understand http://btcrelay.org/ , and how it might be applied to allow gitcoin users to do bounties in bitcoin.
to submit the bounty, come up with an architecture that described how an integration between gitcoin and btcrelay would work. if you don't think its a viable option, then please articulate why.
total funding for this bounty is 100 DAI, which will be broken up between submitters by (1) who provided value first and (2) correctness of submission, at my discretion.