Since on-chain atomic swaps were first proposed back in 2013 it's been an incredibly tough journey to get to the first real world transaction. Let's talk a bit more about what atomic swaps are, how they work, and what it means for cryptocurrency traders.
Atomic swaps are a protocol that allows two parties who don't trust each other to exchange ownership of assets on two different blockchains without a third party such as a cryptocurrency exchange. The word atomic means that the exchange either fully happens, or it is fully reverted, meaning that there is no such situation when one party claims the assets and then does not follow up with their part of the trade.
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