It is kind a coin it is like trading between coins which are different and it is done without using third party source. ::)The main problem of this process is to finding suitable person to exchange coin. 
Topic: Atomic cross chain trading (Read 143 times)
It is kind a coin it is like trading between coins which are different and it is done without using third party source. ::)The main problem of this process is to finding suitable person to exchange coin.
Generally, crypto currency doesn't have any third party interruption. But, when you'll be transacting with atomic cross chain to have better transaction process and ideas you can include a third party to help you in the whole process. So, this is how it works.
It is kind a coin it is like trading between coins which are different and it is done without using third party source. The main problem of this process is to finding suitable person to exchange coin.
What is atomic cross chain trading or atomic swaps exactly and what problem it has ?
Atomic cross chain trading is like trading between coins which are different but without using a third party source such as an exchange. Here direct peer to peer transactions take place which is actually better than using an exchange. The only problem is finding a suitable person to exchange your desired coin.to clarify the only problem is the adoption of the method. otherwise the same problem can be found on current centralized exchanges that we use. if there is nobody to buy/sell then you will be stuck there too.
if Atomic Swaps become popular and a platform is build so that people can easily use it then centralized altcoin exchanges will become obsolete and only centralized crypto-fiat exchanges will remain because for fiat you will need that centralization.
when we trade between two different kind of coins strightly. i mean without taking help of any third party that is is called cross chain trading as far i know.
Automatic cross chain trading is the process in which two party trade two different coins without the presence of any third party or exchange. And it hard to find a person with desired coin whom you can trust.
Cross chain trading is to deal with two different coin together using a platform. The pronlem with this trading is to find out that platform which will allow you to deal with these different coins.
Atomic cross transaction occurs between several coins and for this trade can’t need other parties. That’s why it is popular among the investors.
Atomic cross-chain trading (Atomic swaps is another name) is, for example, when you hold, say, BTC and I hold LTC and we decide to trade directly without a centralized exchange to serve as a mediator.
The problem is, of course, who sends the coins first. Can the sender trust the other person that they will send their coins back without cheating, or, for example, without chaning the agreed upon exchange rate.
It's fine when you trade with someone you know (like it happened recently when the creator of Litecoin successfully traded LTC for BTC, VTC, and DCR), but what about when you don't know the other person? Hence a trustless mechanism is needed.
In principle, these swaps rely on two mechanisms: either on using time locks or on using contracts.
More info: https://en.bitcoin.it/wiki/Atomic_cross-chain_trading
The problem is, of course, who sends the coins first. Can the sender trust the other person that they will send their coins back without cheating, or, for example, without chaning the agreed upon exchange rate.
It's fine when you trade with someone you know (like it happened recently when the creator of Litecoin successfully traded LTC for BTC, VTC, and DCR), but what about when you don't know the other person? Hence a trustless mechanism is needed.
In principle, these swaps rely on two mechanisms: either on using time locks or on using contracts.
More info: https://en.bitcoin.it/wiki/Atomic_cross-chain_trading
What is atomic cross chain trading or atomic swaps exactly and what problem it has ?
Atomic cross chain trading is like trading between coins which are different but without using a third party source such as an exchange. Here direct peer to peer transactions take place which is actually better than using an exchange. The only problem is finding a suitable person to exchange your desired coin.
What is atomic cross chain trading or atomic swaps exactly and what problem it has ?
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