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
ASIC Resistant
A term used to describe cryptocurrency proof-of-work protocols that are resistant to Application-Specific Integrated Circuit (ASIC), by packing in various parameters that make it difficult for ASICs to have a competitive edge against consumer hardwares.
Rug Pull
Sudden removal of liquidity which typically leads to asset prices crashing from the lack of liquidity to absorb buy/sells.
Decentralized Finance (DeFi)
Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free.
Transaction Fee
A payment to the network for performing a transaction to be recorded on the blockchain.
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