What Are Atomic Swamps?
Atomic swaps are a peer-to-peer, trustless method of exchanging coins on different blockchains. In essence, atomic swaps allow you to exchange, for example, bitcoin with litecoin, while avoiding the need to trust an exchange or any other third party.Further Reading: What Is Bitcoin?Atomic swaps can be performed in one of two ways: Firstly, atomic cross-chain trading can be done directly between two blockchains with different native coins — known as an on-chain atomic swap. Secondly, you can use off-chain channels that are offshoots of the main blockchains involved — known as off-chain....
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It is well-known that Bitcoin’s upcoming lightning network promises instant confirmations and low fees. What is not as well-known is that this highly anticipated scaling layer is actually not limited to Bitcoin. The very same peer-to-peer protocol can potentially be extended to, and made interoperable with, many altcoins. This could allow for trustless altcoin payment processors, decentralized altcoin exchanges and perhaps even cheaper bitcoin-to-bitcoin payments and more. Atomic Swaps. Interoperability between Bitcoin and altcoins is not new. So-called atomic swaps(or atomic cross-chain....
ATOMIC is a blockchain that seeks to act as a ledger for any and all cross-chain transactions. It’s billed as a Decentralized Autonomous Corporation and can also be used as a decentralized exchange for all cryptocurrencies. It’s currently unreleased and in development, set to launch before the end of 2014. Of special interest: “Any merchant that accepts cryptocurrency payments in one coin or another is by default already accepting ATOMIC payments,” the ATOMIC site reports. The ATOMIC blockchain will be mined by Proof Of Exchange (POE) and Proof Of Gateway (POG), which are “two brand new....
For quite some time, trustless, cross-chain trades called atomic swaps have been a holy grail of sorts and a number of blockchain developers have worked on making them a reality. According to the developers from the Monero project, atomic swaps between bitcoin and monero are now accessible via the COMIT team’s asb software. Cross-Chain Swapping Bitcoin and Monero in a Trustless Fashion The Monero project has announced that bitcoin (BTC) monero (XMR) atomic swaps are now available via an implementation created by the COMIT network. The announcement was written by Monero developer....
Cryptocurrency enthusiasts paint a picture of digital currency and interoperable blockchains as the future of finance. They envisage a day where blockchain utilities like blockchain explorers, wallet software, and peer-to-peer exchanges support a melange, digital ecosystem in which blockchains are compatible at the technical level. Atomic Cross-Chain....
A hero reports the first and second Monero Atomic Swaps on the mainnet. This is a great day for decentralization and privacy, if you believe in such things. As Seth For Privacy reports, “You can, today, swap Bitcoin Monero directly peer-to-peer, over Tor, with no custodian or trusted 3rd-party, no KYC (Know Your Customer) […]