Asset Transaction

luhe1900

I am a stellar lumens investor and also a developer, I am trying to build apps and I am trying to think though those questions:

I am wondering, if I transact xlm for bitcoin through stellar network, do I have to setup any bitcoin account first? How about USD, any bank account I have to setup first ?

A following question would be if I bought BTC through XLM on stellar network, will this transaction need to go through the bitcoin network to confirm? If not, how to bring other asset (stellar) into stellar network and how to bring them out?

b3no

The BTCs stay on Stellar in from of tokens. You can get them in/out using an anchor.

luhe1900

Thank you, I looked into the anchor documentations and get a basic understanding of how that works.

A following question would be, can multiple anchors issue the same asset, for example, using the same code as USD. How to trace back which anchor issued which asset?

Really appreciated.

b3no

Yes, they can. You need to establish a trust between the anchor/asset you want to hold.

EDIT: To be more clear, only anchor + asset represents a valid asset. If 2 anchors have an asset named USD they are treated as 2 different assets on the stellar network. If you trust a specific issuer of USD you can't be tricked to receive/trade another USD.

epaterna

An asset is identified by name + asset issuer

So you can receive usd from different issuer Because they are basically 2 different assets

b3no

Only if you trust both.

luhe1900

Thank you How could I see the asset issuer descriptions? Or what I can see is only an issuer hashcode?

epaterna

You can see the issuer public address

peweb

Does this mean if you create a new token on Stellar you must become an anchor as well?