ATOMIC SWAPS
Atomic swaps are a method that enables the fast exchange of two coins that operate on different blockchain networks. Users can trade their coins directly from their personal cryptocurrency wallets using this method, which is also known as atomic cross-chain trading. Therefore, atomic swaps are fundamentally peer to peer trading between various blockchains.
Despite being a novel method, cross-chain trade has been a subject of debate for many years. In 2013, Tier Nolan most likely became the first person to explain an entire atomic swap protocol. However, Daniel Larimer presented a trustless exchange protocol called P2PTradeX in 2012, and some people view it as the atomic swap's prototype.
The potential for cross-chain trading and blockchain interoperability are changing significantly thanks to atomic swaps, despite the fact that this technology is still very young and does have some limits. As a result, the method has a significant deal of potential to impact the development of the bitcoin sector by creating new opportunities for decentralization and peer-to-peer money transfers. Atomic swaps are likely to be utilized more frequently in the near future, particularly on decentralized exchanges