What Are Atomic Swaps?

💎An atomic swap is generally a smart contract technology that allows one cryptocurrency to be traded for another without the use of centralized intermediaries, such as exchanges. Throughout this process, users have complete control and possession of their private keys.

💎Atomic swaps can occur directly between blockchains of various cryptocurrencies, or they can be made off-chain, away from the main blockchain. The atomic swaps first came into attention in September 2017, when an atomic swap was made between Decred and Litecoin.

💎The Atomic Swap was first proposed by Tier Nolan at the BitcoinTalk Forum in 2013. Nolan explained the fundamental rules for cross-chain cryptocurrency swaps through various forms of blockchains.

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