Topic: ⚛️ SWAPS.ORG – TRADE NATIVE CRYPTO - XMR/BTC/ETH/ERC-20 - ON-CHAIN DEX ⚛️ (Read 54814 times)

It’s been quiet from you after the official announcement of BitcoinAtom • Swaps was released in April.

What can we expect from Bitcoin Atom and Swaps in the near future?

Doese BCA get listed on Xeggex too?

Kind Regards

What is the plan for Bitcoin Atom (BCA), your native coin?

Will BCA be utilised within BitcoinAtom • Swaps?

it would be awsome if it is sooner then later but i have my doubts.

There exists other cross-chain Atomic Swaps DEX-es out there as well, like Komodo and BasicSwap.

What distinguishes BitcoinAtom • Swaps from its competitors?

1. Yes, Definitely. Several other coins will be added over time. We are starting with the most traded pairs and we believe getting liquidity to these makes new additions easier.

2. Good Question. Yes there are. We are working on some targetted B2B and B2C marketing and the results of these will be posted on https://bitcoinatom.io/ and on the https://t.me/bitcoinatomswaps announcement page

Question 1
Are you considering adding new coins to BitcoinAtom • Swaps, i.e. cryptocurrencies or stablecoins?

Or is the strategy to get liquidity to BTC, ETH, XMR and BCA first, before adding new coins to the Atomic Swaps DEX?

Question 2
Is there any plans to market BitcoinAtom • Swaps, so more people can be aware of your AS~DEX?

Atomic swaps are based on Hashed Time-Lock Contracts (HTLC), which utilize the following basic mechanisms:

• Multi-signatures: transactions can be signed by two (or more) parties, thus having the parties that signed verify and be accountable for the multi-signature transaction (also referred to as multi-sig in Bitcoin parlance).

• Hash-locks: a cryptographic lock that can be unlocked by revealing a secret s whose hash H(s) is equal to the value h configured in the lock.

• Time-locks: a time-based condition that prevents a transaction’s or smart contract’s assets from being redeemed (or refunded) until a specific time interval has elapsed. The interval can be relative to the time the transaction is published on the blockchain or can be absolute time.

• Basic scripting: this is required to indicate that a transaction can be unlocked (or committed) only if multiple conditions are satisfied, e.g., both the secret to unlock a hashlock is revealed or the time specified by the timelock has elapsed and a particular signature is provided. Hashlocks can be used to link transactions on two blockchains. Both locks are constructed using the same hash function and are configured with the same hash, hence they can be unlocked using the same secret: opening one hashlock reveals the secret which can be used to open the hashlock on the other chain.

Hmm. Interestingly, Yes. Atomic swap allows Layer-2 platforms to become a network of payment channels as it suits their near-instant transaction speed and helps improve micropayments.
 
For instance, atomic swaps are perfect for Lightning Network since it doesn't require block confirmations or compete for space within blocks.

Is there any intersecting point between Atomic Swaps and Layer-2 scaling platforms?

Atomic swaps, the technology back of Swaps.org, operate on the principle of interoperability, enabling the exchange of different cryptocurrencies across distinct blockchain networks. By adhering to standardized protocols and utilizing compatible hashing algorithms, atomic swaps can be implemented across a wide range of blockchain platforms. Additionally, ongoing developments in cross-chain communication protocols aim to further enhance the universality of atomic swaps, ensuring compatibility with both existing and emerging cryptocurrencies.

Swaps is ahead of the curve and is providing a decentralized means for cross-chain transfers

Swaps.org is pushing the boundaries of what we know is possible. Flowing with the evolving DeFi space, we are defying theoretical facts by creating an atomic swap protocol that is:

(i) non-custodial,departing from a third party trusted holding the coins from users during the exchange;
(ii) universal, that is, compatible with all (current and future) cryptocurrencies;
(iii) multi-asset, supporting the exchange of multiple coins in a single atomic swap.

An update would be shared in due time. Information will be posted on the BCA Website (https://bitcoinatom.io/) and on Swaps telegram page (https://t.me/bitcoinatomswaps)

What is the swap team's defence against Denial of Service (DoS) attack? and and could there be like a form of reputation score for both counterparties?  and Prolly security deposit?

When can we expect a web-based version of BitcoinAtom • Swaps to be released?

I think Swaps team should look into previous work by BarterDEX and Lightning Labs. They dabbled into this DEX atomic swaps field in 2017 or so and could provide some resourcefulness with their mistakes and strengths. Build on that and LFG. The market is ready, the 'laborers' (projects) are few.

I'm not sure we can compare Pancakeswap with Swaps. Having used the former -and I quite appreciate the importance to the ecosystem - the ingenuity of Swaps cannot be overlooked.

Sushiswap, Pancakeswap, Ape swap, Quick swap, Dogeswap, moonswap et Al only exists because Uni swap made the first move.

Still, I understand your point and get where you are driving at.

When it comes to countries that have banned or restricted certain cryptocurrencies, such as Japan, South Korea, China, and potentially Belgium, navigating government policies can be a significant challenge for users and developers alike. Here's how:

1. *Legality and compliance:* Users and developers must ensure that they comply with local laws and regulations to avoid legal consequences. This may mean that users in these countries are unable to buy, sell, or hold certain cryptocurrencies, and developers may need to adjust their products or services to comply with local regulations.

2. *Market access:* Countries that ban or restrict certain cryptocurrencies effectively remove a portion of the global market for these cryptocurrencies. This can lead to decreased adoption and liquidity, which in turn could impact the value and viability of these cryptocurrencies.

3. *Geographic arbitrage:* Despite bans or restrictions in some countries, users may still be able to access and trade certain cryptocurrencies through decentralized exchanges, peer-to-peer transactions, or by using VPNs or other methods to circumvent restrictions.

In countries where certain cryptocurrencies are banned or restricted, Swaps.org could potentially intervene by offering the following solutions:

1. *Decentralized exchange:* As a decentralized exchange, Swaps.org does not require users to register or provide KYC information, making it more accessible to users in countries with restrictive regulations. This allows users to trade cryptocurrencies without relying on centralized exchanges that may be subject to government oversight or control.

2. *Privacy-enhancing features:* If Swaps.org incorporates privacy-enhancing features such as ring signatures or zk-SNARKs, users may be able to obfuscate their transactions, making it more difficult for governments to identify or track their activity on the platform.

3. *Education and awareness:* Swaps.org could also play a role in educating users in banned countries about the risks and opportunities of decentralized cryptocurrencies, helping them make informed decisions about using these platforms despite local restrictions.

Overall, while Swaps.org cannot directly intervene in local regulations, it can provide users in banned countries with alternative means of accessing and trading cryptocurrencies, which could help promote the adoption and growth of decentralized finance in these regions. However, it's important for users to remain aware of the potential legal risks and to take steps to protect their privacy and security when using these platforms.

I agree with you on Pancakeswap and I appreciate the clarity on Swaps' niche product; cross-chain swaps. Looking at it from a new perspective, how does navigating government policies come into play for cryotocurrencies that are banned in specific countries. Like Japan/s.Korea and Monero (I think Belgium too, although not so sure)

Absolutely! DigiCash was a revolutionary digital cash system that was developed in the late 1980s by cryptographer David Chaum. Here are a few facts:

1. *History:* DigiCash was based on Chaum's research into secure electronic payments, and it used a blind signature system to prevent banks from tracking users' transactions.

2. *Anonymity:* DigiCash provided users with a high degree of anonymity, as it used unique "digital coins" that could be exchanged without revealing the identity of the sender or receiver.

3. *Impact:* Although it never gained widespread adoption, DigiCash is considered a precursor to modern cryptocurrencies and electronic payment systems. Chaum's ideas about privacy and decentralization influenced the development of Bitcoin and other digital currencies.

4. *Demise:* Despite initial interest from financial institutions, DigiCash struggled to gain traction and eventually went bankrupt in 1998. The reasons for its failure are debated, but many point to issues with scalability, adoption, and management.

Here are a few reasons why PancakeSwap and Swaps.org might not directly compete with each other:

1. *Different Networks:* PancakeSwap is primarily focused on Binance Smart Chain (BSC) and the BEP-20 standard, while Swaps.org will likely support a wider range of blockchains and tokens. This means that PancakeSwap's users may not be as interested in using a cross-chain exchange like Swaps.org.

2. *Target Audience:* PancakeSwap is primarily focused on the DeFi community, which is generally more interested in yield farming, staking, and other activities that are specific to BSC. Swaps.org, on the other hand, is targeting a broader audience of crypto traders and investors who want to make cross-chain swaps and potentially access a wider range of assets.

3. *Scalability:* PancakeSwap, being a DEX on BSC, benefits from the high speed and low fees of the Binance Smart Chain.

Let's explore the topic of centrality:

1. *Decentralization:* Both PancakeSwap and Swaps.org claim to be decentralized, meaning that they operate on a distributed network of nodes and are not controlled by any single entity. However, PancakeSwap's reliance on BSC could be seen as a potential point of centralization, as BSC is owned and operated by Binance, a large centralized exchange.

2. *Governance:* While both platforms claim to be decentralized, PancakeSwap's governance is more centralized than Swaps.org's. PancakeSwap's governance is controlled by the PancakeSwap team, which makes decisions about the platform's development and future direction. Swaps.org, on the other hand, may have a more community-driven approach to governance, which could provide greater transparency and accountability.

Here are a few key differences between Swaps.org and Uniswap:

1. *Blockchains:* Uniswap operates on the Ethereum blockchain, while Swaps.org is designed to support cross-chain swaps across multiple blockchains. This means that Uniswap is focused on ERC-20 tokens, while Swaps.org could potentially support a wider range of assets.

3. *Scalability:* Uniswap is constrained by the scalability issues of the Ethereum blockchain, which can lead to high gas fees and slower transaction times. Swaps.org could potentially provide more efficient and cost-effective transactions by leveraging the scalability features of different blockchains.

4. *Governance:* Uniswap has a decentralized governance structure, with a community-controlled development fund that provides funding for protocol improvements and initiatives.

From a centralization perspective, there are some interesting differences between Uniswap and Swaps.org:

1. *Ownership:* Uniswap is technically a decentralized protocol, but it's maintained and developed by a company called Uniswap Labs, which holds significant control over the protocol's development and direction. Swaps.org, on the other hand, could potentially be more community-driven and decentralized, with a governance structure that gives users more direct control over the platform's development.

2. *Dependence on Ethereum:* Uniswap is heavily dependent on the Ethereum blockchain, which could be seen as a potential point of centralization. If the Ethereum network faces scaling issues or other challenges, this could have a significant impact on Uniswap's functionality. Swaps.org's cross-chain approach could mitigate this risk by spreading transaction volume across multiple blockchains.

It's fair to say that, at least right now, Swaps.org doesn't have any direct competitors in the decentralized cross-chain exchange space. While other decentralized exchanges like Uniswap and PancakeSwap offer some of the same functionality, they're focused on specific blockchains or token standards, rather than providing a true cross-chain solution.

That said, the crypto space is notoriously dynamic, and it's possible that new competitors could emerge in the future. Swaps.org will need to continue innovating and building out its platform to maintain its early mover advantage and stay ahead of the competition.