Atomic swaps – exchanges between different Blockchains without intermediaries – have become a subject of considerable interest within the community, thanks to the decentralized nature of the exchange process … The novelty in the area is that a developer known as “Deswurstes” or “MCCCS” has launched a successful test of this type associated with Bitcoin Cash.
According to the computer expert, his interest in the scalability debate dates back to mid-2016, being a great follower of Bitcoin since then – as a miner and investor. The test is one of the first contributions of the developer that uses the Bitcoin Cash code, and there are already plans for the design of a more efficient and friendly-looking software.
In the words of Deswurstes a Bitcoin.com:
“Atomic swaps are a very interesting topic, and although there are many exchanges that offer trade between altcoins right now, the truth is that none of them is safe … There is nothing that can prevent the exchange from stealing the user’s money”.
“When I discovered the atomic swaps they seemed great to me, and I thought it would be amazing if Bitcoin Cash had this feature. First I asked the developers if they were going to implement cryptocurrency support, but unfortunately they were busy. However, one or two weeks later I tried and managed to codify my goal “.
This first test was an atomic swap contract from Bitcoin Cash to Bitcoin Cash, and the programmer did so because it allowed him to debug start and participation commands at the same time. Deswurstres explained to Bitcoin.com that the software works great, although it does not have support for dynamic fees; Despite this, he added that people can make payments in Bitcoin Cash without trust, not without first highlighting that the process of compiling the software and writing commands in the system is complicated for the average user. The developer ruled that the atomic swaps will replace the current exchanges -with a large volume for the BCC-BTC trade-, and that they only need a good user interface so that everyone can use them. In fact, Deswurstes says that at the moment there are two startups working on user interfaces more friendly for atomic swaps: Barterdex and Altcoin.io.
“There will come a time when all the exchanges between altcoins use atomic swaps, thanks to a very substantial security component … in the end they will be as convenient as the old exchanges”.
Eduardo Gómez is a Venezuelan freelance writer and Information’s Technology Professional. He discovered Bitcoin in 2012 and has been drawn to it ever since. He also works as a Customer Support Agent at the San Francisco-based Bitcoin startup Purse.io