Atomic SWAP
By CoinGecko | Updated on Aug 13, 2021
Atomic Swap is a term used to define a feature that allows exchanging cryptocurrencies that operate in different block chains, but without intermediaries. For example, to move from Bitcoin to Ethereum, a centralized exchange house is currently needed, since they are different block chains. Atomic Swap would allow you to send your bitcoins to the person who gives you ethereums in exchange for a single blockchain transaction that is reflected in both block chains.
Related Terms
Ledger
A record of financial transactions that cannot be changed, only appended with new transactions.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
Hashrate
Total processing power of a blockchain or what is the same, are the amount of hash values that can be made in a period of time.
Gas Limit
A term refers to the maximum amount of units of gas user's willingness to spend on a transaction on Ethereum blockchain.
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