Atomic Swaps - how do they work?


#1

Looking forward to these…but cant say I know much about the details :slight_smile:

Erc20 tokens up first so would be good to have all the major tokens verified and ready to go.

Is atomic swaps with btc possible in the future? I heard ltc and monero tested atomic swaps on testnets or something?

Any and all info welcomed!


#2

Waves’ atomic swaps will be able to work with every other blockchain supporting this feature.


#3

Wow thats great news! Interested to know more about the details of how they’ll work (as in where and how the coins are stored by the smart contracts, and if they’ll all be stored on one contract or many) but I’m sure that will be talked about more as we get closer to the time ))


#4

I think people overestimate them, AS don’t allow out of the box swaps between all assets right? You will need to make a proxy token for each erc20 token, or how do you guys see this?
Many think AS will do everything from a to z and spam our dex full with all erc20, neo,… assets, however this seems me a bit impossible, no?


#5

Of course btc have multi-sig that most of users don’t know how to use it :slight_smile: As I know, when you send A coin to the Wavesplatform, smart contract will open an account on A chain with signuture and store this A coin on this address. When signuture will be verified by waves contract, A token that issued on waves blockchain will be send to your waves account. @ismagin can explain that better.


#6

So like I said, it’s impossible to have our dex being spammed by all erc20 assets. Since the asset should be issued on our platform. I do know how AS work. I did research about it. But I don’t see it as fully automated fail prove thing like many think


#7

An Atomic Swap is a direct cross-chain trade, i.e exchange ETH directly into Waves without a middleman and both assets on their native chain
what you are describing is actually not an atomic swap, but a permission-less gateway, which I do think will improve the Waves DEX remarkably.


#8

I didn’t say there will be middleman for atomic swap :wink: Just try to explain how it will work.


#9

So AS make a dex unneccesary, since that is what the dex does, trade assets.


#10

#11

Heres an interesting article about atomic swaps…main takeaways for me were they try to avoid solidity :laughing: and also making a sc for each trade as a security measure :slight_smile: https://medium.com/coblox/connect-all-the-blockchains-atomic-swap-78b38fff42e


#12