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How Long Will It Take Atomic Swap To Fully Come Into Effect?

Discussion in 'Altcoins' started by philipj, Dec 17, 2017.

  1. philipj

    philipj GrandMaster Crypto Guardian

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    For now we don't. However there have been series of test cases. Not too long ago, we Litecoin got involved with on-chain atomic swaps. The latest is between bitcoin cash and komodo

    In this atomic swap, the buyer used KMD to buy Bitcoin Cash using BarterDEX, and the trade was completed in short order. A lot of new opportunities are waiting to be explored, and it seems both BarterDEX and Komodo will play a big role in the future of atomic swaps.

    For users, atomic swaps introduce a lot of positive changes. First of all, there are no verification processes required to convert various cryptocurrencies, as there is no centralized exchange overseeing things. Secondly, no transaction fee.

    If atomic swap eventually become popular, we would not need any cryptocurrency exchange like Bittrex, no frustrating KYC etc.

    You can see that decentralized exchange solutions and atomic swaps are clearly the way to go in this regard. It may still take a few years until this technology is widely used, but for now, its progress is promising.

    In any case, there is one aspect that puzzles me. Why is no one testing bitcoin for atomic swap? It might just be because of its high fee and slow confirmation time, thus makes the entire concept of atomic swaps nearly impossible.
     
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  3. coinpedia

    coinpedia Upcoming

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    You have explained very well How long Will It Take Atomic Swap To Fully Come Into Effect?. I totally agree with your information.
    to study more about your topic Lets check here: BarterDex
     
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  4. philipj

    philipj GrandMaster Crypto Guardian

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    Ok
     
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