Altcoin.io Unveils Updated Version of New Atomic Swap Wallet

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Altcoin.io Unveils Updated Version of New Atomic Swap Wallet

January 4, 2018 News 0
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On its website, Altcoin.io advertises itself as “a truly decentralized exchange. Built by traders, for traders.” Recently, the company released an updated version of its atomic swap wallet. As CEO Andrew Gazdecki told The Merkle, “it’s basically a decentralized version of www.shapeshift.io via atomic swaps.” The concept piqued our interest, so we decided to write up this exclusive covering the specs of this nascent platform. Here’s what we found. A New Era of Decentralized Trading For those new to atomic swaps, they’re exactly what the name implies. It’s a method of swapping currencies across blockchains without needing to go through an exchange. Atomic swaps use hashed time-locked contracts to confirm the sending or receiving of funds, a contractual agreement similar to smart contracts in function. The trading parties will not receive their exchanged currency until both sides agree to the trading terms and sign off on a cryptographic code that serves as a receipt for the transaction. Now that that’s covered, back to Altcoin.io. In October, the company published a blog post indicating that it had conducted the first-ever successful atomic swap between the Bitcoin and Ethereum blockchains. Currently, its wallet beta only allows for testnet swaps of Bitcoin and Ethereum. A testnet coin is a coin that originates from a testnet faucet for the specific purpose of testing new tech. If you decide to try out Altcoin.io’s atomic swap wallet, do not send any of your actual coins. They will be lost, you will be sad, and we’ll probably get some angry comments…
Source: Altcoin.io Unveils Updated Version of New Atomic Swap Wallet

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