What are atomic swaps and how are they applied?
Atomic swaps are a mechanism for enabling true P2P trading of cryptoassets directly through the blockchain. How do atomic swaps work and what is the future of this technology? Atomic swaps are automatic contracts for exchanging cryptoassets between blockchains. The mechanism of smart contracts completely eliminates the need for centralized third-party organizations (exchanges or exchangers) when making transactions and frees the counterparty from risk. This is one of the few truly decentralized methods of conducting…
