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Qtum has just introduced the Bitcoin atomic swaps on its main network. The information was released by the company in a Press release January 9th. Atomic swaps are one of the most important blockchain developments that are currently being analyzed and tested.
Atomic Swaps would allow users to exchange a cryptocurrency with another without having to trust another third party. This is completely different from what the centralized exchanges currently offer.
In order to implement atomic swaps from Qtum to Bitcoin, the blockchain network used a technology called Hash Time-Locked Contracts (HTLCs). This is based on the open source code of the cryptocurrency Decred (DCR).
In a blog post uploaded by the Qtum, they explain Atomic swaps:
"The feature of not having an addiction and atomicity of third parties is consistent with the basic principles of Bitcoin, so the future of cross-chain atomic exchanges is favored by the market.Many mainstream cryptocurrencies have realized the cross-chain atomic exchange and released their codes ".
Furthermore, the intention is to allow users who do not own Qtum token to interact with smart contracts. In the meantime, a third party would pay for that tax. Qtum uses the so-called Transaction output not switched off (UTXO) that allows lighter intelligent contract interactions. This is one of the advantages that the network has over Ethereum, the third largest network of digital assets and blockchains on the market.
Qtum is currently trading around $ 2.22 and has a market capitalization of $ 197 million. This makes it the 29th largest digital asset on the market.
Back in December, Qtum awarded a $ 400,000 grant to Columbia University to develop a new programming language for Ethereum (ETH).
In December 2018, the Litecoin Foundation announced that it is collaborating with X0 to bring with a click atomic exchange ability to the Lightning network. Litecoin (LTC) is one of the most popular digital resources and developers have always sought to add Atomic Swaps to the network.
The LF has formalized a collaboration with @ X9developers of @XSNofficial in the maintenance and in the hardening of lcd. They recently updated lcd with btcd. This allows #litecoin neutrino support, a lightweight LN client. Read more here: https://t.co/cPeCMGZ6qK
– Litecoin Foundation (@LTCFoundation) December 20, 2018
Charlie Lee, creator of Litecoin, performed in September 2017 an atomic exchange of 1,337 LTC for 2,406 ADR.
Yesterday I made a chain atomic exchange of 1,337 LTC for 2.4066 DCR w / @_alyp_ of @decredproject. (See txns: https://t.co/BlxU1QBK2U) ⛓️⚛️💱🚀 https://t.co/wPqzdw40Gp
– Charlie Lee [LTC⚡] (@SatoshiLite) September 20th 2017
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