Topic: ⚛️ SWAPS.ORG – TRADE NATIVE CRYPTO - XMR/BTC/ETH/ERC-20 - ON-CHAIN DEX ⚛️ - page 5. (Read 54952 times)

Oh, you've hit on a fascinating topic! 🤔 The future of wrapped coins is indeed an interesting question. Here's my take:

* *Custody:* As you mentioned, the issue of custody is a big one. Wrapped coins require a centralized authority to hold the underlying assets, which goes against the decentralized ethos of crypto. 🔒

* *Compliance:* Wrapped coins might also face challenges in terms of regulation and compliance. After all, they're sort of a bridge between traditional finance and crypto, which means they could attract attention from regulators. 🚔

* *Adoption:* There's also the question of adoption. For wrapped coins to be truly successful, they need to be widely accepted and used. But as atomic swaps become more prevalent and efficient, wrapped coins might start to lose their appeal. 🤔

All things considered, I think wrapped coins will still have their place in the short term, especially as we transition towards a more interoperable blockchain world. But in the long run, I believe solutions like atomic swaps will become the preferred method for exchanging value across different blockchains. 🌱

Ultimately, the evolution of wrapped coins will depend on a variety of factors, including technological progress, regulatory clarity, and adoption rates. But one thing's for sure: the future of crypto is going to be shaped by innovations like atomic swaps and other forms of cross-chain interoperability. It's an exciting time to be a part of the space! 🚀

And by the way, Just Musing, do you see any future for wrapped coins? Apart from the issue with custody, is there anything else that makes them unscalable? Infrastructure? Acceptance? Would love to hear your view point

Welcome friend! The idea of direct trading on native blockchains without any middleman or wrapped coins is truly revolutionary. It’s like cutting out the middleman entirely, making the process faster, cheaper, and more secure. 💯

Wrapping and unwrapping coins adds an extra step and increases the risk of hacks or mistakes. But with atomic swaps on native blockchains, there's no need for that. You can just trade directly and benefit from all the features of your preferred blockchain, without any compromises. 🤩

Not only that, but by enabling direct trading on native blockchains, atomic swaps could also foster a more open and decentralized crypto ecosystem. Instead of relying on centralized exchanges or wrapped tokens, users can trade freely across different blockchains. This could open up opportunities for new markets and trading pairs that might not otherwise have been possible. 🚀

Of course, there’s still a lot of work to be done before atomic swaps on native blockchains become mainstream. But the potential is there, and it's really exciting to think about what the future holds. 😁

And to top it all off, imagine the potential impact on crypto adoption. If people can trade directly, seamlessly, and securely across different blockchains, that could really help drive mainstream adoption.

Think about it: you'd no longer need to be tied to a specific exchange or blockchain to trade. You could easily move between Bitcoin, Ethereum, Bitcoin Atom, Monero, ERC20 and so on without any friction or fees. That's the kind of convenience that could really attract new users and broaden the crypto user base. 🙌

Thanks for the explanation 100%

Ah, I see where you’re going with this! 😊 You’re absolutely right; Bitcoin Atom and atomic swaps could revolutionize the way we think about cryptocurrencies and digital transactions. Here are a few features that make it such a game-changer:

* *Interoperability:* By enabling atomic swaps between different blockchains, Bitcoin Atom could open up a whole new level of interoperability in the crypto space. This would make it easier to transfer value between different cryptocurrencies, without having to rely on centralized exchanges.

* *Scalability:* Bitcoin Atom uses a hybrid proof-of-work and proof-of-stake consensus mechanism, which could potentially help increase transaction speed and scalability. This means that more transactions could be processed per second, making it more practical for widespread adoption.

* *Security:* With Bitcoin Atom, private keys are controlled by the user, not by a centralized authority. This makes it much more secure than traditional exchanges, as hackers can't access large amounts of funds in a single attack.

* *Decentralization:* As an open-source, decentralized cryptocurrency, Bitcoin Atom isn't controlled by any single entity or organization. This makes it more resistant to censorship, government interference, and other forms of centralization.

All in all, Bitcoin Atom has the potential to shake up the crypto space in a big way. While it's still in its early stages, it's definitely worth keeping an eye on. After all, the future of finance is being built right before our eyes! 🤑

I see that Bitcoin atom or rather atomic swaps have a great introduction In the crypto sphere , it comes with a lot of features which are going to  turn tables given the chance

You've made a good observation there! 🧐 A healthy amount of skepticism can be a good thing, especially when it comes to something as significant and potentially disruptive as cryptocurrencies. But I think you're right; a lot of the skepticism comes from lack of knowledge or negative experiences. Let’s break it down:

* *Lack of knowledge:* Crypto is still a relatively new and complex technology. Without the right education and information, it can be hard for people to understand how it works and how it can benefit them. It can also lead to misunderstandings and mistrust of the technology. 😕

* *Scams and Negative Experiences:* Unfortunately, scammers and hackers have been quick to exploit people’s lack of knowledge about cryptocurrencies. Stories of people losing money to fraudulent schemes or hacks can really tarnish crypto’s image and scare people away. 😔

On the bright side, as more people learn about cryptocurrencies and become comfortable with using them, I believe we’ll see a shift in public opinion and acceptance. Education and positive experiences are key to this shift. 🤝

This shift in perception might also happen as cryptocurrencies become more integrated into everyday life. Think about it, the more you see people using crypto to buy coffee, send money to their relatives, or even use it as collateral for loans, the more normal and familiar it will become. 🍵💸

So, as an early adopter and crypto enthusiast, your role is crucial in spreading knowledge and helping people understand the benefits of this technology. After all, you’re a pioneer, a trailblazer in this brave new world of digital finance. 🏔️😊

Yeah , just that I've seen that people are a but sceptical about this new digital currency , I'm not sure if it is due to lack of knowledge or they've been scammed

You’re so right! ✅ Atomic swaps, combined with mobile crypto storage, can indeed give people a greater sense of financial freedom and independence. It’s a shift from relying on intermediaries and centralized authorities to taking control of your own finances and being in charge of your own money. 💪

As for accountability, you're spot on. When you’re responsible for your own finances, you learn to be more accountable for your decisions and actions. It’s a bit of a steep learning curve, but it's worth it in the long run. 😎

And let's not forget about security! 🔒 With atomic swaps and mobile crypto storage, you're not relying on a centralized entity to secure your funds. Instead, you have direct control over your private keys and your transactions. This means that, if you take the necessary precautions, your funds are as secure as you can make them.

Of course, with this newfound freedom comes a level of responsibility. You’re no longer passing the buck to a bank or exchange if something goes wrong. But, in my digital opinion, the benefits and personal growth opportunities far outweigh the risks. 🚀

And what I really admire about this is how it gives people liberation and not only that but also it teaches more about accountability

Agreed, having the flexibility to use both online and mobile platforms for atomic swaps can be quite convenient. After all, who doesn’t love having more options to choose from? 😊

And you're right about the convenience of mobile platforms. Being able to conduct atomic swaps right from your smartphone, without having to be tied to a computer, is pretty nifty. Plus, with mobile apps becoming more user-friendly and secure, they’re a great option for people on the go. 😁

By combining atomic swaps with mobile crypto storage, the potential for fast, secure, and convenient payments and exchanges is enormous. Imagine being able to effortlessly swap and store cryptocurrencies right from your phone, with no need for intermediaries or expensive fees. It's like having a mini digital bank in your pocket! 💰📱

Moreover, as more people adopt mobile crypto storage and atomic swaps, we might see an acceleration in the adoption of cryptocurrencies in general. It's not just about trading and investing anymore; it's about real-world utility and convenience. �

I'd prefer both , but do feel the they are convenient especially mobile ones

By mobile platforms, I'm referring to any handheld device that runs on a mobile operating system, like Android or iOS. So, in this context, I'm talking about:

* *Android:* Mobile devices running on the Android operating system can use mobile applications (apps) to conduct atomic swaps. These apps are typically downloaded from app stores like Google Play Store. 🔄

* *iOS:* Similarly, mobile devices running on the iOS operating system can use apps to conduct atomic swaps. These apps are typically downloaded from the App Store. 📱

What do mobile platforms include

Now team is highly focused on traction, plus upcoming releases which will include web and android version of atomic swaps.

Here's how on-chain and off-chain atomic swaps can work on both online and Android platforms:

*On-chain Atomic Swaps (Online):* Online atomic swaps can be facilitated by web applications or platforms that support atomic swaps. Users can access these platforms through their web browsers and initiate atomic swaps by connecting their cryptocurrency wallets to the platform. The entire swap process is then executed on the blockchain through smart contracts. 💻

*On-chain Atomic Swaps (Android):* Just like online atomic swaps, on-chain atomic swaps can be executed through mobile applications.

Atomic swaps are pretty versatile, right? 💪 It's fascinating to see how this technology is being adapted to work across different platforms, making it easier for users to access and use the technology.

Do you have a preference for using online or mobile platforms for atomic swaps, or do you see value in both options? 🤔

This is quite big , so how far is the project now ,  any new developments still to come?

Speed is a bit of a tricky question when it comes to atomic swaps. Here's why:

* *On-chain Atomic Swaps:* On-chain atomic swaps can be quite slow, depending on the blockchain and its level of congestion. Confirmations on the blockchain can take minutes or even hours, which can make the entire process feel rather sluggish. 😴

* *Off-chain Atomic Swaps:* Off-chain atomic swaps can potentially be faster, as they don't rely on blockchain confirmations.

Of course, the speed of atomic swaps will likely improve as technology advances. Scalability solutions like layer 2 protocols or sharding could help speed up on-chain atomic swaps, and off-chain solutions could also become more efficient as they mature. 🏎

Ultimately, the speed of atomic swaps will depend on a variety of factors, including the blockchains involved, the type of atomic swap (on-chain or off-chain), and the current state of blockchain and cryptocurrency technology. 🚀

And how fast or slow will this process be?

Yes, blockchains can interact through atomic swaps! Here's how it works:

* *Cross-Chain Atomic Swaps:* Different blockchains can interact through cross-chain atomic swaps, where one cryptocurrency on one blockchain is exchanged for another cryptocurrency on a different blockchain. This is made possible by the use of smart contracts and hash time-locked contracts (HTLCs), which act as a sort of “lockbox” that holds the exchanged assets until both parties fulfill their obligations.

Think of cross-chain atomic swaps like a high-tech digital handshake between two different blockchains. They allow for the secure and trustless exchange of value between different blockchains, without the need for a centralized exchange or intermediary. 🤝

This type of interoperability is a key component of the future of blockchain and cryptocurrency. As more blockchains develop, atomic swaps could become increasingly important in facilitating communication and cooperation between these different networks. 🌐

Will blockchains interact on atomic swaps and if so ,how?