//Atomic Swaps

Atomic Swaps

An atomic swap, sometimes referred to as atomic cross-chain trading,
is an exchange of a cryptocurrency between two parties without the need for a third party.
With so-called Hashed-Time Locked Contract (HTLC), both users can be confident that their business is safe.

For example, Bob has 10 Dinero, and Amy has 2 Litecoins , if they both agree to trading, there is no need for a stock exchange or a
third party system to intervene to make sure the trade is taking place or that one Party not only retains the funds of the other party.

This is guaranteed because Bob, when transferring his payment to the blockchain, has to provide a number of this cryptographic hash.
The same goes for Amy, when she adds her Litecoins to her blockchain to claim her Dinero from Bob, she has to give the same number,
showing that she has delivered her part of the deal. If the funds are not claimed on time, they will be returned back.

Try the Atomic Swap with Dinero and Litecoin at Barterdex

2018-09-14T15:28:24+00:00 September 14th, 2018|Categories: Uncategorized|Comments Off on Atomic Swaps