Cross chain atomic swaps is a way to transfer value between any two different isolated blockchains. In short, it allows you to trade crypto in a decentralized, trustless way across chains, such as ETH/ETC, ETH/BTC or even DCR/LTC, as shown in the blogpost below.
This functionality would not be possible without all the work done to first create and perfect the on-chain DEXs like Saturn Network, and the upcoming work to create Saturn Rings to enable truly decentralized, uncensorable cross-chain marketplaces.
Making cross-chain atomic swaps really work at scale is as much a technical problem as it is a user experience challenge. Without an easy way to access liquidity there would be no successful marketplace. We are finally at a stage where our fundamental blockchain research, combined with the power of Saturn Rings, will provide cross-chain liquidity with ease of use of centralized coin exchange websites such ChangeNow, Shapeshift and Changelly.
As part of the Prometheus stage of our roadmap, we plan to roll out this functionality starting with ETH/ETC trading pair, and then expand into DAI/ETC, USDT/ETC and other options based on trader demand. Of course, other Saturn Rings may be able to adapt our code and launch cross chain atomic swaps for other trading pairs as well.
The main advantage of cross-chain atomic swaps, compared to using something like Changelly, ShapeShift or Binance, is that at every point in the process the trader has full control of their funds, and can terminate the trade at any time. This is the new, hack-proof cryptographically secure way of trading cryptocurrencies that completely eliminates counterparty risk. Unlike when you use centralized exchanges, your funds will never get stolen by hackers.
This functionality, combined with Saturn Rings, will change the landscape for decentralized, trustless and uncensorable trading, ensuring that no matter where you are you can trade your crypto without giving up control to malicious centralized exchanges.
Future is bright!
New to Saturn Network?
Read more about Saturn Protocol V2 below, an upcoming major exchange protocol upgrade which will bring token to token pairs, automatic market making, DAO activation for community governance, dividend payments and much more!