Prototying steem2btc, however..

I spent sometime protying the steem2btc swap, however, I found out it may not be feasible because:

Higher fees

at the time of testing, the estimated fee is about $20.

{ feerate: 0.00031208, blocks: 10 }

And the fee also depends on the transaction sizes. That means, if a wallet has a higher number of transactions/UTXOs, then the fees will be higher.

Complexity in Get Balance

The fundamental model in BTC is UTXO (Unspent Transactions), so it is not trivial to get the balance of a BTC wallet. We have to get the all UXTOs and add them up.

Complexity in Send Raw Transactions

Because of UTXOs, sending transactions on bitcoin becomes a bit complex.

Longer confirmation time

6 blocks, usually 1 hour or more.

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