The first ever "atomic" exchange between Bitcoin and Litecoin has successfully taken place, Cointelegraph reports . The special importance of this translation is that it was conducted outside the detachment. This means that the ownership of koinas passed from hand to hand, but none of the banks involved the transaction was not recorded.
Here's what the founder of Litecoin, Charlie Lee, said about it:
The previous nuclear exchanges that I conducted were done on the phone and were subject to the appropriate restrictions - slow [transactions] and a high commission for the transfer. Offechanovye atomic exchanges are much better. They are instant, [have] a low commission and are better kept confidential.
ADVANTAGES OF ATOMIC SWAPS
The system will allow users who wish to have a connection between the junctions, send crypto-currencies without having to wait for confirmation on the block, and even with a much smaller commission. This connection will allow you to make incredibly fast transactions in Bitcoin-network, and it is a simple, but at the same time elegant solution to the discussion about extensibility.Another significant advantage is that such transactions are completely anonymous. Since they leave no trace on any of the cells, being thus completed, they can not be traced in any form. This kind of confidentiality is what is being tried with ZK on Ethereum.
Cointelegraph asked Konstantin Gladich, CEO of Changelly, to share his opinion on the new technology:
Changelly is a decentralized exchange that processes voluminous transactions at the most favorable rates on the market. We are burning with the idea of "atomic" off-exchange exchanges, as this is a new stage of evolution, providing off-exchange p2p deals without risks. However, for the time being this can not completely displace the existing ecosystem.
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