DEFINITION of 'Atomic Swaps', DEFINITION of 'Atomic Swaps' Beállítások

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Atomic swap is a smart contract technology that enables exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges.

Atomic swaps can take place directly between blockchains of different cryptocurrencies or they can be conducted off-chain, away from the main blockchain. They first came into prominence in September 2017, when an atomic swap between Decred and Litecoin was conducted.

Since then, other startups and decentralized exchanges have allowed users the same facility. For example, Lightning Labs, a startup that uses bitcoin’s lightning network for transactions, has conducted off-chain swaps using the technology.

Cryptocurrencies and decentralized exchanges, such as 0x and Altcoin.io, have also incorporated the technology.

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