What are atomic swaps & how do they work?

Atomic swaps facilitate a peer-to-peer (P2P) exchange of two cryptocurrencies on different blockchains. By using smart contract technology, thereby eliminating the need for centralized intermediaries, atomic swaps can be conducted both on-chain or outside the distributed network.

What are cross-chain atomic swaps?

Cross-chain atomic swaps are cryptocurrency exchanges or trades between cryptocurrencies that use separate blockchains. Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs.

What is atomic exchange & how does it work?

The swap is conducted between two entities without a third party's involvement. The idea is to remove centralized intermediaries like regulated exchanges and give token owners total control. The term atomic derives from the term "atomic state" in which a state has no substates; it either happens or it doesn't—there is no other alternative.

What is Komodo atomic swap exchange?

Komodo is probably the first atomic swap exchange that allows its users to take advantage of the feature. Unlike traditional exchanges, it is also a decentralized exchange. In fact, it is the team behind Komodo that puts their efforts and invests their time behind the idea of Atomic Swaps.