Qtum, a decentralized blockchain platform that bridges Ethereum’s smart contracts on top of Bitcoin’s blockchain to provide a unique hybrid of the 2 cryptocurrencies, has introduced Bitcoin (BTC) atomic swaps to its mainnet infrastructure.
Qtum released an in-depth blog post on the matter detailing the technicalities and processes of an atomic cross-chain swap between Qtum and Bitcoin.
What Are Atomic Swaps?
Atomic swaps are a method of exchanging cryptocurrencies peer-to-peer (P2P), from one party to another without going through a third-party service like a cryptocurrency exchange. Atomic swaps have the potential to completely revolutionize the value transfer system in cryptocurrency.
If atomic swaps prove to be a viable solution to exchanging cryptocurrencies, people will be able to exchange one token for another, directly from their cryptocurrency wallets. The idea of atomic swaps is very popular because exchanging cryptos via centralized exchanges makes them…