The Komodo project launched on Friday the public beta of its latest product, AtomicDEX. The platform seeks to enable trustless atomic swaps between different blockchains, currently connecting Ethereum and its tokens to blockchains like Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE).
Using atomic swaps allows users to trade directly with the native tokens. Someone buying Ether (ETH) with BTC would just exchange ownership of the respective coins on their blockchains, without having to use intermediary tokenized representations.
The integration comes within a dedicated multi-blockchain wallet built by Komodo, which includes the Atomic Swap feature. The beta of the trading system has officially launched on Friday at 6 PM UTC.
Atomic swaps are a type of cross-chain interaction where special cryptographic techniques, usually based on hash-time locked contracts, or HTLCs, ensure that two transfers either occur completely or not at all. This means that two parties in an exchange transaction will swap funds simultaneously, and if either party backs down the transaction is cancelled.
In a conversation with Cointelegraph, Komodo’s pseudonymous chief operatingTitle: Komodo launches AtomicDEX beta bringing atomic swaps to Ethereum and Bitcoin
Sourced From: cointelegraph.com/news/komodo-launches-atomicdex-beta-bringing-atomic-swaps-to-ethereum-and-bitcoin
Published Date: Fri, 26 Feb 2021 18:04:40 +0000