Blockchain : Atomic Swaps
Atomic swaps or atomic cross-chain trading is the exchange of one cryptocurrency to another cryptocurrency without using centralized intermediaries, such as exchanges. It is a smart contract technology. This system uses a hash time-locked smart contract so that one party must deliver the currency to be swapped, or the transactions will not be completed, it will be canceled. It maintains atomicity either the swap will take place or no currency will be swapped.
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What is the Blockchain?
A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency’s block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history.
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