Atomic Swap
An atomic swap is a cryptocurrencyA cryptocurrency (or crypto currency) is a digital asset des... More exchangeA business that allows customers to trade cryptocurrencies o... More between two parties that wish to exchange tokens from different blockchains (i.e., exchange BitcoinThe term "Bitcoin" can either refer to Bitcoin the network, ... More for Ether or vice-versa) without first converting to fiat. Atomic swaps do not require supervision or the need of an intermediary or trusted third party; atomic swaps will not require Know Your Customer (KYC)The know your customer or know your client (KYC) guidelines ... More exchanges between parties similar to swaps at centralized exchanges. In order to prevent one user withholding their agreed upon amount of currency, atomic swaps use hash time-locked contracts (HTLC)Hash Time-Locked Contracts (HTLC) are smart contracts which ... More to automate the exchange of tokens.