Blockchain Technology and Applications
Atomic swaps are a method that enables the exchange of one cryptocurrency for another without the need for a centralized intermediary, ensuring that both parties can trade securely and instantly. This process is crucial for enhancing cross-chain interactions, allowing users to exchange different blockchain assets directly while minimizing the risks associated with the transaction. Atomic swaps rely on smart contracts and cryptographic proofs to guarantee that either both parties receive their respective assets or neither does, thus solving some key interoperability issues between distinct blockchain networks.
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