How does AirSwap work?

As a cryptocurrency enthusiast and a finance practitioner, I'm often asked about the intricacies of various decentralized protocols. One such query that often arises is, "How does AirSwap work?" AirSwap is a decentralized exchange protocol that enables peer-to-peer trading of digital assets. It functions on the principle of atomic swaps, meaning the exchange of assets occurs in a single, indivisible transaction, ensuring both parties receive their respective assets simultaneously. At the core of AirSwap's operation lies the order book, which matches buy and sell orders without a centralized intermediary. Orders are broadcasted to the network, and counterparties can negotiate and execute trades directly. The protocol utilizes Ethereum smart contracts to ensure trust and security in these decentralized interactions. For those interested in diving deeper into the technicalities, AirSwap's architecture leverages Ethereum's ERC-20 token standard and 0x protocol for order matching and asset transfer. By removing intermediaries and promoting direct interactions between traders, AirSwap aims to provide a more efficient and cost-effective trading experience.