What is Atomic Swap ? How would it benefit traders ?
Atomic Swap A smart contract technology that enables the interchange or exchange of cryptocurrencies without the involvement of intermediaries such as central authority or exchange is known as atmoic swap. Atomic Swaps can occur between blockchains of various cryptocurrencies or they can occur on the off-chains away from main blockchain. What is the first conducted atomic swap ? The atmoic swap was first conducted in September 2017 , which is conducted between Decred and Litecoin. After which many startups and decentralized exchanges have inherited the same feature of atomic swaps to their users. For a glance : Lightning Labs has conducted off-chain swaps whcih uses bitcoin’s lightning network for transactions. The Need of Atomic Swaps The exchange of very large amount of cryptocurrencies becomes easier and safer with atomic swaps when compared with cryptocurrency exchange platforms. In exchanges, there is a chance of occurance of hacks of cryptos and also ever...