📚If you are a follower of the blockchain industry and the cryptocurrency market, it is unlikely that you have not heard of the term atomic swaps, or as it is known in English, Atomic Swaps.
🤔What does this term mean? How does it work? What are its benefits? We will learn about all these matters in the following tweet series!
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Atomic swaps are the process of exchanging cryptocurrencies between two entities whereby tokens from separate blockchain chains are exchanged.
The transaction occurs between the two parties without the involvement of a third party.
The aim is to eliminate centralized intermediaries and give token holders full control.
How it works:
Atomic swaps use smart contracts to execute transactions between the participating parties. These contracts are programs embedded within blockchain chains that execute when specific conditions are met.
Thanks to these contracts, negotiating parties can exchange digital assets quickly and easily without the need for a third party to mediate.
Its benefits:
Atomic swaps are considered an effective way to exchange cryptocurrencies quickly and securely, as they ensure transactions free from external interference.
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