Altcoin Exchange announced the completion of the first atomic transaction (swap) between Bitcoin and Ethereum.
Altcoin Exchange exchanged 0.12345 ETH for 0.12345 BTC as part of an open source online process.
— Altcoin Exchange (@altcoinexchnge) 7 октября 2017 г.
As reported by the Bitcoin. com, the CEO of the exchange, Andrew Gazdetski, announced his intention to create a repository on GitHub on Tuesday. He is convinced that the future of cryptotrading behind decentralized platforms, and atomic swaps are an integral component of this business model. In general, Gazdetski is confident that atomic swaps will replace traditional exchange transactions because they are safer and not inferior to them in speed.
Since June of 2011, 26 exchanges have been compromised, resulting in the loss of millions of dollars worth of coins. To prevent more of these types of hacks, decentralized exchanges are needed, and atomic swaps bring us one step closer to achieving this goal. What makes the technology behind Atomic Swaps so exciting is it allows for nearly instant direct trades between cryptocurrencies. We believe this to be a critical component for creating a truly decentralized exchange that executes transactions at the same speed in which centralized exchanges are able to but without the risk of hacking and theft.
CEO, Altcoin Exchange
Also, developers highly appreciated the contribution of the Decred team and the founder of Litecoin, Charlie Lee, to the development of this technology.