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RE: Update: Townhall & Witness Meeting

in #steemit4 years ago

Atomic is a CS technical term for all or none. Allows for coins or tokens to be exchanged in escrow. Sometimes without need for escrow agent because the chains take part in locking the ledgers in limbo. This allows for at least 2 people to swap. Sometimes more complex arrangements are made like multiple tokens or an escrow mediator. Details depends on the technology available and how the swap is done.

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Thank you for the explanation! Wow, these things are complicated.
I still think it's better to leave it as it is now.

It is a blockchain or Bitcoin term right? Well, maybe not a Bitcoin term but cryptography should follow the same all or none logic to ensure transactions are verified and completed so that things are not left in limbo like you said. There are differences between cryptocurrencies and how traditional digital fiat currency works. So, it sounds like the cross chain atomic swapping is a term meant to describe a mechanism within cryptography itself but with the addition of going from one blockchain to another blockchain, am I right? So, in other words, instead of an external middle-man exchange, it sounds like the atomic thing is like a built-in internal exchanging protocol that is built in on both blockchains that allow for the transactions, I mean the exchanges. So, technically, it is not that there is no middle man but that there is no third-party middle man, it would seem.

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