Definition of Atomic SWAP

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.

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Related Terms

Difficulty

A relative measure on how difficult it is to correctly guess a new block

Futures

An agreement between two counterparties that obligates them to transact in the future based on the contract terms set.

Mt. Gox

Mtgox or Mt. Gox was one of the first websites where users could take part in fiat-to-bitcoin exchange (and vice versa).

Block

In the context of blockchain, block refers to the collection of transactional data or information that are bundled together in a predetermined size.

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