Atomic Swaps also released a rough draft to give the crypto community a high-level overview of our project.
“Cross-Chain Atomic Swaps, where you can swap currencies from two Blockchain’s with two transactions that are trustless, and where neither participant can cheat, means that we could see many more decentralized cryptocurrency to cryptocurrency exchanges. So we’ll see how that happens. I think that will be really interesting.” — Andreas Antonopoulos (Source: https://steemit.com/steemit/@beyondthecrypto/atomic-swap-wallet-how-it-works-tutorial-info)
And than, what is Atomic Swapping? Atomic Swapping is part of the transition to why and how we use fully programmable digital money, one of the things we are changing is the idea of very high switch costs (switching to a different competing system) for example; When you want to exchange Euro for Dollars, there is a significant change cost. And with Atomic Cross Chain swaps, the switching cost drops to $ 0.
Atomic Exchange Transactions
Atomic Cross Chain Swap is a Transaction that effectively occurs in a coupled way on both blockchains where I sell my Bitcoin and Buy OmiseGO from another individual, and thus two transactions take place, so I make a transaction on Bitcoin Network and they make a transaction on the OmiseGO network that gives me an agreed OMG exchange amount. We both lock with Multisig and so they can not fool me by taking the bitcoin and not giving me the OMG, and I can not fool them by taking the OMG and not giving them my Bitcoin.
Trade More Tokens than Ever Before
Atomic Swap Wallet added dozens of new tokens to the wallet, and plan to add 100s more. Our peers make the network — so expect to see all your favorite tokens as we grow. We don’t store tokens ourselves, so you don’t risk losing them in a centralized repository.
A whole new level of transactions is ready! The future of artificial artificial code could one day not be very far from being a reality.
Bitcointalk user name: nakamaye
Bitcointalk forum profile link: https://bitcointalk.org/index.php?action=profile;u=1912512
My wallet: 0xaabE94FfEe84CbE596bBbda433D665238C1E8329