Is there a blockchain that can melt its asset tokens back to its original currency same as Chia has option to melt its CATs back to XCH?
I was searching on internet and struggle to find any.
If this is unique feature to Chia, it is revolutionary imo.
First thing that comes to mind is that CAT have intrinsic minimal value at least of XCH price + its own asset value. So CAT (depending on exponent number) can’t be cheaper than XCH, which is the feature of its own.
I’ve certainly never heard of melting before.
I suppose it could be considered similar to coloured coins, where say a fraction of btc has data attached , so although it is a coloured coin, you can just disregard the coloured bit and still spend the btc as btc.
So I don’t think it’s anything new, just a new name, but I’d need to read up on it.
I’m poor coder and don’t understand chialisp much, also there are no particular details of how “melting” is done.
It looks like it is a little bit more advanced mechanism from colored coins in a way that the usual main coin is not just marked as special but is really different than usual coin (XCH) and devidable.
If I understood correctly you can mint 1XCH into 1k 1mil or 1bil coins of your choice, and if you don’t want to use them anymore you can just melt them back in the same 1XCH they were created from.
So I’m wondering is this unique feature or something usual in blockchain tech. How Axie and other subcoins and assets function.