Atomic SWAP
By CoinGecko | Updated on Aug 13, 2021
Atomic Swap is a term used to define a feature that allows exchanging cryptocurrencies that operate in different block chains, but without intermediaries. For example, to move from Bitcoin to Ethereum, a centralized exchange house is currently needed, since they are different block chains. Atomic Swap would allow you to send your bitcoins to the person who gives you ethereums in exchange for a single blockchain transaction that is reflected in both block chains.
Related Terms
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
Centralized
An organization structure wherein a small handful of actors have control over the entire network.
Dutch Auction
A Dutch Auction, also know as an "inverted" auction, starts off with high asking price that decays over time until a pre-determined floor price.
Externally Owned Accounts (EOA)
Externally owned accounts (EOAs) are accounts that are controlled by a private key and have no coding associated with them.
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