SHARE
← Back to articles
SHARE

It’s Bitcoin against the world, until … the atomic swap

August 24, 2017 7:02 pm Published by

The crypto world has astronomically imploded this year and all this digital cash business is all we hear about. First came bitcoin, followed by over 850 other so called cryptocurrencies (a.k.a “bitcoin wannabes”).

Let’s take a step back for a second…

It’s always been about the bitcoin – with over 50% of the total market cap, it makes sense that anything in the realm of crypto is compared to bitcoin.

It’s always been “how does it compare to bitcoin?” – Bitcoin against the world if you will.

… until now. 🙂

Introducing: The Atomic Swap

An atomic swap allows one cryptocurrency to be swapped (exchanged) at the market rate with another cryptocurrency instantaneously and without involving any risk(s).

In laymen terms:

You’ll be able to swap bitcoin with altcoins interchangeably.

How? The Lightning Network – a next level blockchain layer/network (FYI – When you hear the term LN, that’s what they’re referring to).

It has been a pipeline dream up until this point.

But our main man, Charlie Lee (the creator of Litecoin i.e. a true genius) just announced some news, and planet earth has every reason to be excited:

In Plain English:

“Litecoin is testing the lightning network to enable toggling LTC and cryptocurrencies seamlessly”.

Once the foundation is laid, support for other currencies can be built. The big jaw dropping milestone will be between Bitcoin and Litecoin.

By the look of things, the first swaps may very well include Litecoin and Decred. This development is a huge breakthrough… and assuming the tests will be successful will give Litecoin a first mover advantage.

Definitely, hold your horses and #watchthisspace! You can follow my Medium post for more information about atomic swaps.

A beginners guide to Litecoin

With over 1000 cryptocurrencies now available, there are plenty of options for those looking to diversify their holdings. One of the most popular altcoins is Litecoin. Here are the basic facts you should know about Litecoin. Litecoin is almost identical to Bitcoin Litecoin is a peer to peer cryptocurrency which works in pretty much the same way as… View Article

A shoutout to the women making waves in crypto

At the last count, 49% of the world’s population, was made up of women; but recent figures show that only between 5% – 7% are cryptocurrency users; however, with its roots firmly cemented in the worlds of technology, and finance – perhaps it’s really not that surprising. Nevertheless, there’s a definite core of girl power… View Article

What’s the difference between an IPO and an ICO?

ICOs have exploded in popularity over the last year. If you’re wondering how they compare to traditional IPOs, here’s a primer. What is an IPO? An IPO (Initial Public Offering) is the first public sale of a private company’s shares. Companies need to be large before its worth holding an IPO, although there’s no size… View Article

Do we need Blockchain banking?

In 2017, Harvard Business Review predicted blockchains will have the same effect on the financial industry as the internet had on the media. That’s a bold statement and one which is proving more probable each day. Twenty years ago, most major media companies ignored the internet. Later, they scoffed at it, seeing it as a passing fad…. View Article