Business News Network

We will discuss about crypto swaps and particularly Atomic Swaps, a new way to do cryto swaps today. With that being said, how do atomic swaps work? Atomic swaps use a specific type of smart contract called a hash timelock contract (HTCL). This can be thought of like a “virtual lockbox” requiring two special keys: A HashLock key: That only distributes traded cryptocurrency to traders when all parties have signed off on their respective transactions. A TimeLock key: A safety mechanism that returns traded cryptocurrency to traders if the trade is not completed within a specified time period.

Apps & Software: Day traders need to be constantly tuned in, as reacting just a few seconds late to big news events could make the difference between profit and loss. That’s why many brokers now offer user friendly cryptocurrency mobile apps, ensuring you can stay up to date whether you’re on the train, or making your sixth coffee of the day. The cryptocurrency trading platform you sign up for will be where you spend a considerable amount of time each day, so look for one that suits your trading style and needs. Exchanges like Coinbase offer in-depth platforms, such as their Global Digital Asset Exchange (GDAX). It’s always worth setting up a demo account first to make sure the exchange has the technical tools and resources you need.

Atomic swap is also known as cross-chain trading. How Does Atomic Swaps Work? To give a very simplistic explanation. Two parties who are going to engage in atomic swaps decide on a shared secret. The two parties will share their cryptos if and only if their secrets match. So, this way, if somebody else barges into this exchange, they won’t be able to get their hands on any of the coins because they will not know this secret. Ok, so now you know the concept, but how does it actually work? In order to execute this, something known as Hashed Timelock Contracts or HTLCs are used. If you are familiar with the lightning network then you should know how hashed timelock contracts work. Right now we will just give you a brief description of what hashed timelock contracts are. Discover additional details on Swap Cryptocurrency.

“Simple, fast and private. No registration” is the strapline you see when alighting on flyp.me, and for users troubled by KYC, it’s music to the ears. With flyp.me, you can exchange over 30 cryptocurrencies instantly including BTC, DASH, LTC, and a bunch of other altcoins while retaining full privacy. You also retain at least a measure of control over the exchange rate: when you hit the ‘Flyp now’ button, the rate is locked in for the next few minutes. Flyp.me promises to leverage several trading platforms to secure the best exchange, analyzing the market depth and liquidity of the currency in question and taking a 0.5% cut while they’re at it. Another very good pick is Atomiic.io.

The Atomiic.io team is glad to welcome you at our service. We have done the process of cryptocurrency exchange simple, safe and comfortable. Our customers don’t need to create accounts or store their funds at Atomiic.io. We offer swaps of more than 300 cryptocurrencies. Our team is always glad to add new coins to the Atomiic.io list of currencies and is looking for new partners to make our platform even better. Visit: https://atomiic.io/.