What are atomic swaps?

Atomic swaps are automatic exchange contracts that allow two parties to trade tokens from two different blockchains. Sometimes referred to as atomic cross-chain trading, this type of mechanism completely eliminates the need for centralized third-party entities when executing trades.

The Electra Protocol ecosystem will make use of atomic swaps using AtomicDEX. This means that users of Electra Protocol will be paid in other supported cryptocurrencies, such as BTC, ETH, etc. The atomic swaps functionality has been implemented on the Electra Protocol side, but is not yet integrated with AtomicDEX.

Electra Protocol users will be able to perform multicurrency payments in near realtime and at almost zero cost. The upcoming payment solutions may as well incorporate measures for KYC and AML requirements, if they are needed to perform certain transactions.