blablablub

sharing technical insights about Hydranet, a platform working on seamless blockchain interoperability.

[blablablub @OffchainDex]

Calling all creators: craft a sharp, creative video to showcase our DEX, wallet, and project.
Let your creativity loose - put our wallet in the spotlight.
Top 3 videos, voted on in our Discord, win 5-, 4- and 3,000 HDN each.
Submit by Aug 18 as a reply here or in our Discord.

[blablablub @OffchainDex]

@geoburke @BitmanTW @moneyfet1sh @PortaltoBitcoin hey @geoburke i´d like to make a comparison video of the Portal wallet and Hydranets atomic swap DEX but unfortunately when i open the Portal extension im only greeted with error messages. Any news when it will be working again?

[blablablub @OffchainDex]

@btcecho Underrated und undervalued: Hydranet https://t.co/gD3j8O2pH7 https://t.co/51YP8xYqtr

[blablablub @OffchainDex]

@HydranetDefi @PortaltoBitcoin @TheHydranet @Thealphacruze

[blablablub @OffchainDex]

Obviously im biased towards Hydranet, but here are some concerns i have about Portal.

Screenshot 1:
Their wallet application is based on mutinyWallet, as can be seen in their Extension code (Google doesnt allow code obfuscation, so everything can be inspected).
MutinyNet has discontinued the development of their wallet https://t.co/2OZDBeAFFx and the last code push was one year ago https://t.co/vAibqLmOXq
Why did Portal decide to build on a project that was discontinued due to technical issues?

Hydranet on the other hand built their own tailored browser based Lightning wallet based on LDK.

Screenshot 2:
While Portal claims to have developed advanced technologies like Bitscaler and hub-less transfers, their code hints that this in not the case. Also no one has ever seen anything Bitscaler related in real life / testnet, its all buzzwords and a 10 page whitepaper so far, at least i couldn't find anything that demos it.
Same applies to their "swap-sdk" "Last updated 1 year ago", couldnt get anything running, see Screenshot 4.

Screenshot 3:
In the past months, i have tried to test and use the Portal browser extension multiple times, but i was never able to make a swap, nor can i really find any recent demo videos demonstrating it.
Currently their extension seems to be disabled.

Other things:
- Does Portal only allow for simple swaps, or do they also have classical orderbook trading like Hydranet?
- Why did Portal decide run a Validator network, when off-chain atomic swaps make that unnecessary, because the users wallet can do all the validation.

[Bitcoin News @BitcoinNewsCom]

Mutiny Wallet to cease operations by the end of 2024 due to technical challenges.

Users can self-host the wallet, but the web app and mobile versions will be discontinued.

@benthecarman, a member of Mutiny's three-man team, has moved on to work at Taproot Wizards.

[blablablub @OffchainDex]

Personal Bug Bounty

Challenge: Find and demonstrate a way to lose funds due to actions in the Hydranet Wallet on Testnet.

Where: https://t.co/QDHynmXiGq (Testnet funds included)

Conditions: The loss must occur unintentionally (e.g., NOT due to deliberate actions like corrupting browser local storage, sending funds to incorrect addresses, modifying code, or sharing your seed phrase).

You must provide a reproducible method to trigger the issue.

Submit detailed logs and the Testnet seed phrase to our dev team for verification.

Reward: 15k of my personal HDN.

PS: We will have an official bug bounty program at a later stage

[blablablub @OffchainDex]

The Hydranet Testnet Beta is ongoing and its still easy to get into the top 20 wallets.

https://t.co/51YP8xYYiZ

[blablablub @OffchainDex]

@MiniMoonSoon Any so called Titan (hub provider.) The hub consists of the Lightning and Lithium Routing nodes, orderbook and rental manager.
Read more here: https://t.co/S4w4ZoUom3

[blablablub @OffchainDex]

The inbound liquidity problem:

One downside of payment channel solutions like Lightning and Lithium is the inbound liquidity problem.
When receiving funds off-chain, the receiving wallet needs a peer that provides liquidity from its side of the channel.

To solve this issue, Hydranet has developed an elaborated Channel Renting Service, that allows requesting temporary inbound liquidity from a well connected Lighting & Lithium node.
This service is offered in exchange for a small rental fee, that depends on the current price of the involved assets, gas fees, rental duration, available liquidity and rental amount.
When using our Simple Swap UI, the rental fee will be calculated, paid off-chain and the rental will be executed automatically.
Users can then opt in to extend the rental period, if they plan to do more trading activities with the rented assets.
More advanced users can also use the Channel section to manually rent channels.
As always this service and the funds involved are fully non-custodial.
Advancements in the Lightning protocol like Slicing and zero-conf channels will further improve the UX.

[blablablub @OffchainDex]

Watch the guide on how to use the testnet beta and try it out yourself at https://t.co/51YP8xYqtr

Special thanks to Victo for the voiceover!

[blablablub @OffchainDex]

Core Features of the Lithium payment channel protocol, that enabled Bitcoin Lightning compatibility on any EVM chain:

- A single contract per chain, no contract creation fees for end users
- Supporting multiple assets like ERC20 tokens per single channel, greatly reducing gas fees
- Cooperative and unilateral withdrawals giving users access to their funds at any time
- Liquidity pools to reduce frequent on-chain deposits
- Dual funding with a single transactions, further reducing gas fees
- Hashlock payments using SHA256 offering Lightning compatibility for cross-chain swaps
- A sophisticated dispute mechanism, allowing watchtowers to earn revenue from preventing fraudulent actors in the network

[blablablub @OffchainDex]

@PortaltoBitcoin Why not just go fully non-custodial? What are the implications of custody-less?

[blablablub @OffchainDex]

A sign of trust in the Lightning Network and off-chain solutions is the fact that Binance stores Bitcoin worth 35 million USD in active channels.

Hydranet is using the same cryptographic concepts like HTLCs for it��s Lightning-like EVM implementation called Lithium.

https://t.co/SRcnTiIDak

[blablablub @OffchainDex]

By the way, a great place to get more statistical insights and trends about the ever-growing Lightning Network is https://t.co/Afp3Exj5dK

Use https://t.co/QDHynmXiGq to become part of this network straight from your browser and use Lightning without requiring any technical know-how.

[blablablub @OffchainDex]

Hydranet uses Hashed Timelock Contracts (HTLCs) to enable atomic cross chain swaps.
The exact same technology that secures the 425 million USD Lightning Network.

How does it work:

1. Users funds are stored in a 2-of-2 multisig address(Lightning) or a classic smart contract (Lithium), which happens on-chain to proof the existence and ownership of funds. This is called a "Channel".
2. The user can now transact an indefinity amount of transactions forth and back with the channel peer, no more blockchain transactions and therefor gas fees occur.
3. The user can withdraw the funds any time to the blockchain in a mutual withdrawal transaction or in a force closure, which will punish any cheater in the network.

As it would not be viable for a users to open a new channel to every peer they want to trade with, Lightning and Lithium allow routing of funds across multiple network participants, also secured by HTLCs.
These Lightning and Lithium Routing Nodes will have no custody over any funds, but benefit from routing and trading fees in return for providing efficient liquidity.
Any transfer across any number of participants is atomic, which means that either everyone gets their desired amount of funds, or everything is reverted.

As Hydranets Lithium is designed to be compatible with Bitcoin Lightning, the atomic transfers can not only happen on the same chain, but also across different chains.

In the screenshot you can see a swap from HDN on Arbitrum to USDC on Ethereum to Bitcoin, all in one single atomic transfer.

[blablablub @OffchainDex]

Explore Hydranet’s Layer 3 tech, powered by Bitcoin’s Lightning Network for fast, secure, low-cost cross-chain trading.

Learn how the mobile beta wallet enables Bitcoin-Ethereum atomic swaps.
Request your testnet funds directly in the app at https://t.co/QDHynmXQvY

Follow for more technical details and educational content.

[blablablub @OffchainDex]

The Hydranet Wallet runs a lightning node in your browser and you will also never have to worry about losing your channel state thanks to its automated backup and restore mechanism.

Simply import your seed phrase on a different device and continue where you have left off, even on mobile.

Channel data is signed, sent to a backup server, validated and stored for your wallet to retrieve it whenever needed.

Of course this is fully non custodial.

For better privacy in a later stage, the data will also be encrypted and stored in our decentralized Titan and Guardian network.

Try it out yourself at https://t.co/QDHynmXiGq and experience how atomic cross chain swaps give you the CEX feeling with the DEX security.

[blablablub @OffchainDex]

@_VALKlNG @PortaltoBitcoin check out https://t.co/gD3j8O2pH7 and https://t.co/51YP8xYqtr to experience an even better Bitcoin Lightning based project ;) oh an best thing about it, no TGE, no pre-allocation and already tradeable on MEXC and Uniswap sitting at just 7 million $ market cap

[blablablub @OffchainDex]

What happens in these 30 seconds:

- setup of a multi-chain crypto wallet from a random seedphrase
- connecting to the bitcoin blockchain
- connecting to the lightning network and downloading the required channel graph
- connecting to Ethereum and Arbitrum and getting balances
- getting the Lithium channel graph via subgraph
- requesting and receiving testnet funds from our faucet on-chain
- querying the backend for fees and available liquidity
- calculating the amounts for the swap
- depositing HDN in the Lithium smart contract via an Arbitrum onchain transaction
- sending a Lithium HDN offchain transaction to pay for the fees
- setting up an inbound lightning channel with 0-confs
- executing an atomic swap between HDN and Bitcoin

[blablablub @OffchainDex]

1500 HDN for the first person who shares a record doing this below 30 seconds. Must be a fresh wallet! No cheating, will check timestamps in the logs ;)
https://t.co/51YP8xYqtr
@TheHydranet