Altcoins Talks - Cryptocurrency Forum
Learning & News => Further Education => For Beginners => Terminology => Topic started by: Mounty on July 01, 2018, 01:40:24 PM
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Atomic swaps, or Atomic Cross-Chain Trading, is a relatively new piece of technology, atomic cross-chain trading is looking to revolutionize the way in which users transact with each other.
in essence it is the exchange of one cryptocurrency with another cryptocurrency, without the need to trust a third-party -like an exchange.
Brief History of Atomic Swap
The original idea for atomic swaps was described on the by Tier Nolan, in 2013. Komodo’s lead developer, JL777, recognized value in the idea, built the necessary framework, and completed his first atomic swap just a year later in 2014. Since then, his team continues to make tremendous advances in the technology. Thus, Komodo (KMD) team is the lead in Atomic Swap Technology invention across Cryptocurrency community worldwide.
Advantages Of Atomic Swap
Atomic Swaps Allow You to Trade From Blockchain to Blockchain, From Within Your Wallet. An atomic swap is a direct trade between two different coins running on two separate Blockchains; there are no centralized-exchange websites or other third-parties required for this trade. The technology enables common users to bypass the labyrinth of website-exchanges currently necessary to purchase Cryptocurrencies.
Once implemented, the atomic swap will allow common users to trade and purchase any desired coin directly within their own wallets.
video about Atomic Swap:
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These are becoming more useful as Ethereum becomes more powerful and other tokens need to swap from their existing platform to something that can be listed on the erc20 exchanges