First Successful Atomic Swap Completed with Komodo and Bitcoin Cash

Atomic swaps are getting a lot of attention in the crypto world right now, and with good reason. This technology allows people to trade crypto to crypto, without the need to involve a third more popular option such as Bitcoin or Ethereum.

As things currently are, if you own something like Request Network (REQ) and want to sell that to buy another crypto like Power-Ledger (POWR) you would have to go through several steps. First, you sell your REQ for either Bitcoin or Ethereum. You then take the Bitcoin or Ethereum and use that to buy the POWR. Depending on what exchange you are on, you may also have to transfer the coins to another exchange where the desired coin is available.

This is obviously inefficient, and makes the whole crypto-trading environment much more complex than it really needs to be. Complexity is keeping many casual investors out of the crypto world, which means far less money is present than there otherwise would be.

The solution, it seems, is in Atomic swaps. Komodo (KMD) developers have worked with Bitcoin Cash and successfully completed a swap between these two currencies. This is proof that exchange of value between currencies is possible.

The trade involved a buyer using KMD to buy Bitcoin Cash through the BarterDEX platform. This trade was completed successfully, and really is the start of opening new doors to many traders.

While it may be some time before Atomic swaps are the standard, having this on the horizon is a good thing. In addition, things move so quickly in the crypto-industry that having this option may actually get here much more quickly than most people would have expected.

What's Your Reaction?

Loved It Loved It
Loved It
Useful Info Useful Info
Useful Info
It's Alright It's Alright
It's Alright
Not a Fan Not a Fan
Not a Fan
Hated It Hated It
Hated It

Leave a Reply

Be the First to Comment!

Notify of

First Successful Atomic Swap Completed with Komodo and Bitcoin Cash

Send this to a friend