Atomic swaps, a smart contract technology, enable direct cryptocurrency trading without centralized intermediaries, granting users full control over their private keys.
These swaps can take place between different blockchain-based cryptocurrencies, either on-chain or off-chain. In September 2017, Decred and Litecoin made headlines with a successful atomic swap.
Initially proposed by Tier Nolan on the BitcoinTalk Forum in 2013, atomic swaps introduced essential rules for cross-chain cryptocurrency exchanges across diverse blockchain implementations.
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