Atomic Swaps: User based Exchanges
There is a new kind of technology that is being proposed, which comes at a time, when more users are investing billions of fiat money in the crypto space.
This new technology called Atomic Swaps will allow crypto users the ability to have a wallet where users can now swap crypto-currencies within the wallet itself without the need for a centralized exchange.
This solution has been proposed by a group of programmers, which addresses vunerability concerns of hacking within current centralized exchanges.
As heard in the news in recent times, there had been multiple high profile hacks that have happened in the year 2017 alone. A comprehensive list of exchanges hacked can be sourced from this link -
List of High Profile Exchanges Hacked in 2017
This development only means good news for the blockchain technology in general, as risks of hacking is mitigated in the form of further decencentralizing the ability to exchange crytpo currencies back to the users themselves.
Link to related news sources:
https://www.coindesk.com/atomic-action-will-2018-year-cross-blockchain-swap/
https://news.bitcoin.com/komodo-developers-demonstrate-a-bitcoin-cash-atomic-swap/
Yeah, Lightning Network is gonna next-level the whole game.
When do you think it'll start being widely implemented? Any idea?
I am into crypto in general and I find this info very helpful! thank you for sharing it
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