Being one of the largest online trading platforms, E*Trade’s incline towards cryptocurrency is purportedly a significant step forward towards cryptocurrency adoption. As per the annual report filed by E*Trade with the United States Securities and Exchange Commission (SEC) on Dec. 31, 2018, the total asses reported were over $65 billion, with 4.9 million brokerage accounts and a total margin receivables balance of $9.6 billion.
Read more:Wirex Launched Twenty-Six New Stablecoins On Stellar Network
Image Source – E*Trade Twitter
The code is now available on GitHub and will facilitate a large number of developers to build their own code on the top of this. By using Altcoin’s tech, developers will be able to lock a certain specified number of Ether tokens in Ethereum smart contracts. Once the tokens are locked, the funds associated with smart tokens will only be sent when the same amount of Bitcoin is sent to a bitcoin address in a specific time window.
The existence of such an atomic-swap cannot be considered as a feasible and viable option as on date. The reason being that such one-to-one exchange between Bitcoin and Ethereum can’t be considered a fair trade considering both are trading at different valuations and will even continue to do so in the future.
This means that there is still plenty of work to be done at the back-end before such atomic trades could possibly see the light of the day anytime soon.
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