Decred For Investors #12 – What Is An Atomic Swap?

Tai Zen: Can you explain briefly what is an Atomic Swap? Cause we’re talking about it, but let’s define it for the audience.

Marco: Okay. So an Atomic Swap is where you take one cryptocurrency, you exchange it for not a cryptocurrency, without a third party. So it is a trustless but safe way of exchanging tokens.

Leon: So I want some Decred from you and I got Bitcoin. How would it work?

Marco: We would agree on a price. Let’s say a 10 to 1. So there’ll be great, probably a couple more, so let’s say 100 to 1. We would agree to that and then I would create a transaction on my Decred chain. You would create and transaction on the Bitcoin blockchain. And then they would monitor each other. And then once the magic values match up, then literally it’s an Atomic Swap.

Leon: Can you give me, like you want Bitcoin, you can give a magic number.

Marco: You give me a magic number that you are going to derive. Once you see something happened to my chain and then you do the same. When those two match up, that’s when the actual swap happened.

Leon: Even though I don’t know you, I don’t trust who you are. I can still give you my Bitcoin, knowing that you are going to give me the amount of Decred.

Marco: You cannot cheat this. There’s an encoding if you will, where you encode the number, the amounts, and all the other things and that magical number. Once they all add up, if I would actually put less on price, it would not work.

Leon: It would not work. Okay. So it has to be this much, the Decred has to show up in my wallet before you get my Bitcoin.

Marco: Right, and vice versa. Atomically, so they happen at the same time.

Leon: Or they don’t happen at all.

Marco: Right. So it’s both. All or nothing.

Leon: Right now, do you need a special wallet to support this?

Marco: Currently you need. And this is where it’s not so useful yet. This currently is all command-line tools. We can exchange actually with several, but we can do Litecoin, we can do Bitcoin. I want to say VERGE, I think that’s another one. I do not afford the fifth convert.

Tai Zen: But everything has to originate from Decred.

Marco: No, actually Decred’s scripting language is the same as Bitcoin scripting language and that’s why we can do Litecoin and so things like when narrow would be more complicated.

Tai Zen: Cause they always coined anything that’s off of the Bitcoin.

Marco: Everything originally Bitcoin should be relatively simple to add. There are some efforts ongoing right now to add things like Monero or even Ethereum to make the swap.

Tai Zen: Hi guys, thanks for watching this video. If you like our boots on the ground, type of investing approach, we’ll go and talk to the actual development teams to make sure that real people get real information, from real people not simply working in their mom’s basement. Make sure you follow us at www.cryptocurrency.market/newsletter and we’ll look forward to seeing you in the next video. Thank you.

Slide
Cryptocurrency Investing Blueprint™ Course Cover

We believe you should NOT be in front of the computer all day making short term, in and out trades. That is no different than having a “day job” at home instead of at the office. After completing the blueprint, you will learn how to PUT your money to WORK for you in the crypto market.

Slide
Cryptocurrency Investing Bootcamp - Tai Zen & Leon Fu Dot Com 6

If you want to GET RID of the anxiety, nervousness, self-doubt, and FEAR of picking the “wrong” cryptocurrency and losing your hard earned money… then don’t think twice about it; get the blueprint today because it’s the perfect fit for you.

Slide
Cryptocurrency Investing Bootcamp - Tai Zen & Leon Fu Dot Com 12

You will learn “The VC MAN Method™” that we developed that allows you to systematically identify “A” Tier cryptocurrencies worth investing in, that are not scams, by identifying the 5 Key Traits of a Profitable Cryptocurrency.

Slide
Cryptocurrency Investing Bootcamp - Tai Zen & Leon Fu Dot Com 6

You will learn how to properly exit a trade so that you will be profitable even when you are wrong over 60% of the time! Imagine being RIGHT less than 40% of the time in your crypto investing and still be profitable! You do not have to be RIGHT all the time to be successful in cryptocurrency investing!

Slide
Confident Bitcoin and Cryptocurrency Investor

If you have the burning desire to make Life Changing Profits™… Faster Than You Ever, if you are SICK & TIRED of struggling to figure things out alone or listening to people who don’t make a living from crypto investing… then this blueprint is a perfect fit for you.

Slide
Confident Bitcoin and Cryptocurrency Investor

YES, there is a guarantee! If the Cryptocurrency Investing Blueprint™ did not deliver on what was promised on this website, simply make a request within 30 days for a refund, and we will cancel your student access and REFUND you back 100% of your purchase in US dollars.

Now there’s no excuse! If you’re serious about making Life Changing Profits™ in crypto investing, then click on the link below and order your copy of the Cryptocurrency Investing Blueprint™ immediately!

Leave a Reply