Atomic Swap

An Atomic Swap is a peer-to-peer exchange of one cryptocurrency for another without the need for a centralized intermediary like an exchange. It allows users to swap different cryptocurrencies directly between themselves securely and quickly.

The process involves the use of smart contracts and utilizes a mechanism called Hashed Time Locked Contracts (HTLC) to ensure that both parties meet the conditions of the swap before the transaction is completed. Atomic Swaps are executed instantly or not at all, meaning that either both parties receive the agreed-upon coins or neither party receives anything.

This type of exchange offers benefits such as increased security, reduced fees, and enhanced privacy compared to traditional exchanges. It also eliminates the risk of theft or hacking associated with centralized exchanges, as users retain control of their funds throughout the swap process.

Overall, Atomic Swaps provide a decentralized and efficient way for users to exchange cryptocurrencies without relying on third parties, offering a seamless and trustless transaction experience.

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