Added Conversion Functionality #1559
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@dominant-strategies/core-dev
Conversion is a process that allows a user to convert Quai to Qi and vice-versa at the rate determined by the header difficulty (the conversion formula is currently a stub). Conversion does not require a separate transaction type, rather, the user signs and sends a transaction that spends to an address in the same location but different ledger (Quai or Qi). This emits an ETX that must cross prime before it is included in a block in the destination (along with all other ETXs) and converts at the rate of the Prime coincident. Converted funds are locked for a length of blocks to be determined. There is a minimum conversion amount as well, to be determined.
Note:
A Qi-Quai conversion locks the funds in the lockup 'precompile' smart contract in contracts.go. The recipient sends an empty transaction to the address of this smart contract with sufficient gas (at least 100k) and the smart contract will iteratively redeem any locks that are unlocked and credit the recipients balance.
A Quai-Qi conversion will lock the UTXOs in the destination, but the rest of the address' UTXOs are not affected. The conversion executes after a prime coincident and only creates as many UTXOs as gas provided in the ETX (9000 gas per UTXO creation).
Conversion is currently not possible cross-shard.