Blockchain
What is an atomic swap, and how does it work?
Exchange cryptocurrency securely on different blockchains using atomic swaps. It’s either a swap or a no-swap, ensuring crypto funds’ security.
Atomic swaps, also called cross-chain atomic swaps, were theorized in 2013 but gained practicality post-2017.
In July 2012, Sergio Demián Lerner, a developer, produced the initial version of a trustless exchange protocol. However, a full working paper was given in 2013 by Tier Nolan, who is widely acknowledged as the pioneer developer of atomic swaps due to his comprehensive description of the atomic swap procedure.
In 2017, the concept saw its first actualization when Charlie Lee, founder of Litecoin, tweeted the historic moment of the completion of the first successful atomic swap. He successfully performed a cross-chain atomic swap involving LTC/BTC, where he exchanged Litecoin (LTC) for BTC.
Ever since this milestone, numerous DEXs and swaps have been leveraging this technology to create new cryptocurrency trading solutions. Popular DEXs and networks that support atomic swap trading include AtomicDEX, the Lightning Network, Liquality and others.
