A new team consisting of cryptocurrency startup developers, is now open-sourcing the technology that shall help in enabling trustless trading between both the Ethereum Blockchains and the bitcoins.
At present, they are made available at the GitHub and the code has already been used to implement them with other altcoin Exchange claims, which is said to be an atomic swap code that lies between the cryptocurrency market values. With a recent result that was faced after its release, large community developers shall play around with them and even build on top of them.
The altcoin Exchange developers and technicians can now lock the ether tokens within the Ethereum, by making use of the smart contract that shall specify the funds, that are about to be sent out in equal amounts of bitcoins.
During this process the equal amount of bitcoin shall be sent to the bitcoin address at a specific time window. During the higher levels, the developers shall team up with the altcoin Exchanges and execute the overall trade. With such team ups, they can show how 0.12345 levels of ether were traded for about 0.12345 bitcoins at the same time.
Although this might seem to be an experimental or complex one, the developers shall instead see this as a milestone in achieving the next step towards their goal in replacing the centralized cryptocurrency agencies with an easy way to swap up the assets directly between the Blockchains.
Being a long theorized one, the idea about atomic swap code has been in discussion, starting from 2013, yet, it has now seen its own burst of activity with the developers testing their own techniques to trade the bitcoin for the Litecoin and the bitcoin for the Zcash at the same time. It’s a very important technology that has already reached its successful stage.