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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.

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Related Terms

Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
Private Keys
The alphanumeric string which allows transactions from the cryptocurrency address
Microtransaction
Microtransaction is a system that made very small payments possible in buying the common digital goods and services, such as purchasing items in a game.
Smart contracts
Self executing contracts on the blockchain without needing human executors or notary.
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