Author: Sam Russell, Marketing Innovation @ WORBLI

Atomic swaps are the most exciting distributed ledger technology development you may have never heard of.

Also known as cross-chain trading, they solve a lot of issues for both users and developers. Atomic swaps are essentially a "swap" of two different digital assets on separate blockchains.

It is a way to trade digital assets directly without needing a third party - like an exchange. It's an efficient means for individuals, machines and enterprises to interact with each other and applications.

The "internet of blockchains"

An Atomic Swap is executed in a way that requires no trust from either entity involved. Using a hash-time locked contract, both entities are locked in and both must acknowledge the transaction by a certain deadline.

The transactions are then posted to the respective blockchains of each asset, initiating the exchange. This is important because atomic swaps will essentially be the connective tissue creating a powerful "internet of blockchains".
Projects like WORBLI, which is building an all-inclusive financial services network, are using this technology. That's because atomic swaps allow developers of decentralised applications (dApps), and their users, to bypass bottlenecks created by interacting with various blockchains.

The retail industry is one example where this will have a massive impact. Consumers and retailers will be able to exchange value in a currency of their choosing. Transactions will be fast, secure and have extremely low fees. Decentralised exchanges, retailers, financial dApps and services will all operate seamlessly using different currencies thanks to atomic swaps.

Imagine being able to pay a merchant with whatever "currency" you choose. And that merchant gets to choose the currency they receive. This is true value exchange.

It's a new breakthrough that has the potential to revolutionise real-life blockchain interactions. You will not be aware of this technological marvel working diligently in the background of your dApp, but its benefit to you - in terms of making blockchain easy, user-friendly and safe - will be very apparent.

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