in transaction fees alone. Litecoin /Decred/Vertcoin/Bitcoin earlier this year, and brings increased utility to these coins. However, using Atomic Swaps through the Lightning Network will actually further reduce these fees. This was a significant milestone for Litecoin. Digital Transfers, whats different about digital transfers is that we can make both sides of the trade dependent. Now it is quite possible that Lightning Network nodes will charge a fee to utilize their services.
They published a blog about it, created a GitHub repo with utilities and talked about it on my show.
In this article, Im going to explain what atomic swaps are, how this affects Bitcoin and what we can expect going forward.
On-chain atomic swap between two blockchain networks or cryptocurrencies can be done if the structures of the blockchains are fundamentally similar.
Both decred and litecoin are forks of bitcoin or structured after the Bitcoin protocol.
Atomic, swaps via the Lightning Network Earlier in November, an off-chain.
This ultimately meant that. The news brought an increase. Once a payment channel is opened, the split fee per transaction can be cut in half for each additional trade. We call the transfer of money from Alice to Bob, Bobs side of the trade and the transfer of the collectible from Bob to Alice, Alices side of the trade. What did the Decred developers do? Atomic, swap compatible ecosystem increases its value. Are you a developer that wants to get into Bitcoin and blockchain? Suppose further that Alice and Bob live far away so its difficult to do the trade in person and that theyre strangers to each other, so they dont trust each other.
We can create programming logic that makes it impossible for only one side of the trade go through. Want to get curated Technical Bitcoin News? They published a blog about it, created a, gitHub repo with utilities and talked about it on my show. This is an unfortunate reality of physical trading. Atomic, swaps comes. The Lightning Network brought to Bitcoin with Segwit enables users to instantly exchange Bitcoin for. Will this help retail adoption of Bitcoin payments with its speed of use? First, Alice and Bob could meet in a safe location and trade directly.
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