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Atomic Swap

Simply put, an atomic swap is the exchange of one type of cryptocurrency for another, like bitcoin swapped for ethereum, without the supervision of a trusted third party. A relatively new notion, cross-chain atomic swapping looks to change the way users transact with one another. In order to prevent one user withholding their agreed upon amount of currency, atomic swaps use hash time-locked contracts (HTLC).

Note: These are non-technical definitions meant for a general audience and should not be used as legal definition
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