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Rachel Welch

02 October 2022 163 Read Blockchain

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What is Atomic Swap?

Atomic Swap is a cryptocurrency transfer system that enables wallet-to-wallet trading. The protocol uses specially-designed smart contracts to enable decentralized exchanges. The transactions are secured by network-verification, making the system more reliable for high-value exchanges. In addition, it reduces operational and trading costs.

In 2013, Tier Nolan presented his groundbreaking technique for atomic swaps. Although he is generally credited as the inventor of the technique, other developers were working on the concept long before Tier Nolan first outlined the process. Daniel Larimer also developed a trustless exchange protocol called P2PTradeX, which is considered a prototype of the atomic swap protocol.

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