Atomex is a cryptocurrency HD wallet with built-in Hybrid Exchange based on atomic swap technology
So what's an Atomic swap and how it works?
It’s a technology for the safe exchange of digital assets without involving a third party, which using decentralized asset storage. This means that the exchange occurs on the client-side, and you don’t need to send your money to the accessor side. During atomic swap transactions, all that you have to pay is miner fees. Btw, this tech provides complete privacy, without the KYC stuff
Imagine that there is Walter, who have some ETH and wants to change it to bitcoin, and Jessy, who is looking for it. After they meet each other and share their requisites, Walter generates a special secret and sends to Jessy a hash of that secret and then locks his ETH in the Ethereum blockchain. Then, mr. Pinkman checks that the details are correct and provides a similar payment but in the bitcoin chain. When it’s done, Walt makes redeem of the BTC and thereby extracts his secret, which allows Jessy to redeem the ETH and complete the deal .
In the case when one of them can’t full fill his part of the deal, there is a return period, after which they can refund their assets. That protects process from mistakes and malicious participants.
So there are four stages of the atomic swap script:
Initiate
Add
Redeem
Refund - in case of a deal is broken
In fact, it only looks horribly complicated - using atomic swap is very simple.
Just download Atomex wallet and do it!