Ethereum to Bitcoin atomic swap completed

Altcoin Exchange performed first atomic swap between Ethereum and Bitcoin
09 October 2017   11267

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.

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.

Andrew Gazdetski
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.

SK Group to Invest $10M in ConsenSys

SK Group chairman and the 3rd most wealthy man in country believes digital technologies will play an important role in the further development of the company
03 July 2019   270

SK Group has invested $ 10 million in leading Ethereum-based solutions developer ConsenSys. This is reported by the local news agency Chosun.

As noted, in his today's speech at the technology event in Seoul, the chairman of the board of SK Group and the owner of the third largest fortune ($ 3.4 billion) in South Korea Chey Tae-won expressed his interest in the blockchain technology and the tokenized economy, expressing also the opinion about the need for digitalization of approaches practiced by traditional businesses.

According to him, digital technologies will play an important role in the further development of the SK Group.

It is also reported that in February of this year, the telecommunications division of the conglomerate SK Telecom entered into a partnership agreement with Deutsche Telekom to create a blockchain solution for customer identification.

In April of this year, the media passed information that ConsenSys is going to attract $ 200 million in funding from outside investors with a market valuation of $ 1 billion. To this end, the company began distributing presentation materials to Chinese investors. They say that ConsenSys expects to receive $ 50 million in revenue this year, mainly due to contracts with corporate clients and government agencies.