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Cross-Chain Atomic Swaps in a Nutshell

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Cross-chain atomic swaps allow for different cryptocurrencies to be traded with a guarantee that the funds would be received without the need for an exchange or third party. This is a breakthrough in terms of cryptocurrency technology as it could be extended to allow merchants to accept more cryptocurrencies or even used to build decentralized exchanges. Currently successful atomics swaps have been completed between Decred-Litecoin, with more cryptocurrencies to come https://en.bitcoin.it/wiki/Atomic_cross-chain_trading https://bitcoinmagazine.com/articles/decred-adds-atomic-swap-support-exchange-free-cryptocurrency-trading/ ♨️Social: http://boxmining.com Steemit: https://steemit.com/@boxmining Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining 🤑 Buy Bitcoin: https://www.coinbase.com/join/590c3a1c8bfa31012ffacf87 💰 Secure your Crypto with Hardware Wallets: Ledger: https://www.ledgerwallet.com/r/428b Trezor: https://trezor.io/?a=6xd5fhdqqjng 💪Donations: Bitcoin : 13EvsPm3YhiCPGksQQdvQUFtsbF8FoU6Cz NEO: AHMMavFxwPA1jPB3HiF5Hq8JxeJ2soWvDW Ethereum: https://etherscan.io/address/0x58d98516363D2A5f93CE6aB4A4a909599C3EEC3a DASH: XcAREQEEunvv6rJza9LKDzdyjZ1BwBN2iK Litecoin: LXeXUr2Hr3ePgHb9aDjr4QdqA4DPXoTarU NEM: ND6WRNN2W2AZLON65EGI3Y46M4TWP3HNKSB4BGW2 Decred: DsgsSqYF2oSZ5MJeoqiEMyeJdWhdvWk8A4s 👩🏻‍🚀 Save on Amazon with Purse.io https://purse.io/?_r=Fxj40g 💱Software Wallet: Windows/Mac/linux: http://exodus.io
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Text Comments (110)
K Freeze (1 month ago)
EXRN
Slaughtz (1 month ago)
So once the secret is revealed, you can choose whichever wallet the coin is sent to? What prevents the original secret owner from just transferring to their own wallet/a wallet they own after revealing, and then taking the other person's as it's revealed? Does the revelation of the other person's require that the secret be enabled for one wallet (their, the other's, wallet) only before it reveals itself? Then what stops the other's secret from just revealing to their own wallet?
Petr Kozak (2 months ago)
https://getcryptotab.com/640228
Micah Brehm (4 months ago)
I have not heard your thoughts on LTC as of late. Any thoughts?
MuhfugginMike (5 months ago)
$DCR leading the way with Atomic Swaps
thirdnormalform (5 months ago)
Thank you Michael!
Tomas Av. (6 months ago)
DECREED REALLY? KOMODO IS KING IN ATOMIC SWAP WORLD
NavShay (6 months ago)
1:45 casual ufo departs
Andrei Clear (8 months ago)
Michael where was this filmed - just curious someone mentioned Brighton - is that UK as Nacog Doches wrote: >I used to go to Brighton all the time when my parents lived on Staten Island. my reply: you mean Brighton Beach in Brooklyn? they are referring to Brighton UK .. someone clarify please .. thanks ... note it's important for us authors to disclose approx location when filing it's what films and etc do ... it's professional ...
Neef Pratt (8 months ago)
Looks like you doing this video in Brighton! my hometown
Boxmining (8 months ago)
YEAHHH!! so beautiful!!
BlockchainBrad (8 months ago)
Hey Michael, thanks mate for yet another great vid! I have been researching the power of NEOX as an awesome cross-chain protocol so check out my comments on NEO if you are interested. I am a huge fan of all that you do, you really get into the deep end of Cryptos, which is awesome! Thanks for going to all the conferences too.....cheers, BlockchainBrad
Brendan K (8 months ago)
How are cross-chain atomic swaps different from the TenX COMIT network?
xPowerdriverx (8 months ago)
Clear and informative ! Thank you Sir!
Jason (8 months ago)
is that a UFO taking off at the back?
Bitcoin for Beginners (8 months ago)
Thanks for the great video as always. Your channel is an inspiration for my own. I also make beginner-friendly explanations of various crypto topics. If you could check it out sometime and give me some tips/a potential sub, I'd appreciate it greatly!
Bitcoin for Beginners (8 months ago)
Btw feel free not to answer if you want to keep it private, but do you live close to or in China? I always see you with access to the Chinese CEOs and Chinese events in your videos. However, I get a sense that you probably grew up in the West though, since you don't really have an accent. Haha
Boxmining (8 months ago)
cool! its great to see more people doing youtube and sharing their adventures!
bamboo2water (8 months ago)
Thank you for good explanation, but I have 2 specific questions regarding atomic swaps: Since the atomic swap essentially relies on code and mathematics 1- In general, what is to prevent an unscrupulous 3rd party from hacking the code? 2- More specifically, what is to prevent an unscrupulous 3rd party from hacking the code,diverting all funds from both parties to that 3rd party, closing the “hole” in code, andleaving absolutely no trace of the hack—except that both parties lost everything?
bamboo2water (8 months ago)
Could you perhaps point me to some article which explains in detail why it can’t be hacked?
Boxmining (8 months ago)
you can't really hacked the code. its like how you can't hack bitcoin transactions. if you can then bitcoin would have no value.
Wak Cackle (8 months ago)
This guy keeps showing up Micheal; SCAM> "Hello! I have found a very good investment opportunity for %300-500 return after 3-5 days! If you want to make %350+ return after 3 days then please send BTC or ETH to one of my address below:" <SCAM
gadaffi1000 (8 months ago)
He's been showing up on all the crypto youtube comments. Beware!!
Boxmining (8 months ago)
yeah been trying to delete that! thanks for telling me
Sam Lyons (8 months ago)
Bravo...! !
Mark Ford (8 months ago)
imo an explanation like this needs graphics / animation
David Y (8 months ago)
Glad you're doing outdoor vlogs again. Micheal, next time say something like "Welcome to Boxmining, I'm Micheal. Today I'm speaking to you from........". The landmarks may interest a lot of people who don't get a chance to visit asian countries.
Crypto Game (8 months ago)
interesting
jcrc65 (8 months ago)
how is this a big deal if shapeshift.io was already available?
Boxmining (8 months ago)
because shapeshift is 3rd party. What if they steal your money? also fees. this one the fees would be just the fees for sending the transaction
Joseph Sy (8 months ago)
Think of exchange in decentralize blockchain with fiat currency ie omiseGo whe's dealing with the central bank in Asia.
Random Shiz (8 months ago)
thank you for the very informative video, keep up the great work
Nagarjun Roy (8 months ago)
I think Bitcoin will pop start of next month. Will move slightly downward until then. Lowest it might go from here is $3200 - $3250! and then CheckMate for anyone who is shorting it and don't buy back! https://www.tradingview.com/chart/BTCUSD/TbD2DVZw-Bitcoin-in-a-Falling-Wedge/
123abc (8 months ago)
I still don't understand why Decentralized exchanges have very low trading volumes. Why are they under utilized? Anyone??
123abc (8 months ago)
Chris Cesari I've used Shapeshift as well but it still means that a 3rd party is holding your funds. You have to trust that 3rd party. It's not the case with decentralized exchanges from my understanding.
123abc (8 months ago)
Kon I can understand that. But it should at least then attract Shapeshift and Changelly users since Shapeshift still requires trust.
Xcellent Gaming (8 months ago)
123abc shapeshift.io converts it for you and you lose a dollar or so in the transaction. Most people just do that instead.
Felix Valo (8 months ago)
123abc no Fiat pairs
Hinano (8 months ago)
Can you tell us what camera you are using? looks way better than the web cam you use.
jan k (8 months ago)
This is cool technology. I'm sure it will advance further in the future. So many bright people are in the cryptocurrency world.
parabola (8 months ago)
I got Gox'd a few times and had some dude named Jon Montroll at weexchange steal a few BTC from me. At this point we have no choice but to trust the exchange that we're trading on, but make sure to get your coins off of there asap.
David DeMarta (8 months ago)
I cant believe you missed that alien space craft take off behind you!
Boxmining (8 months ago)
+Dave De was trying to film it lol !!
ajola ajola (8 months ago)
Komodo does the same
עזריאל ארד (8 months ago)
Hi box mining. What do you think about this guy https://youtu.be/ceARRvf46MM
l艰苦的女肉龙 l (8 months ago)
Thanks Michael, any idea how atomic swaps could make markets accurately with execution / price certainty ie without large delays and room for arbitrage?
123abc (8 months ago)
Holly Wu Unfortunately, there would be no price certainty since atomic swaps are peer-to-peer. From my understanding, people set the price. I too am looking for arbitrage opportunities hoping that bargain prices would be set.
FatratUK (8 months ago)
Don't see anyone mentioning BlockNet? They did atomic swaps between about 20+ different coins already, first was over 6 months ago i believe. Current hype is really giving Decred too much 'cred' for their latest news...
René K (8 months ago)
Blocknet seems to be much more advanced than any other project in that field.
Djura (8 months ago)
Hey dude. Been watching your videos for a little while, great stuff! I'm living in Brighton currently. What you doing down here? Crypto related?
Mazaribeiro (8 months ago)
Hey I know where you are, that's Brighton isn't it? I use to live there hehe. Now I'm in London.
Mazaribeiro (8 months ago)
This was filmed in Brighton-UK
Andrei Clear (8 months ago)
Mazaribeiro sorry that was meant for Nacog where he wrote >I used to go to Brighton all the time when my parents lived on Staten Island. any idea where was this filmed? thanks ...
Andrei Clear (8 months ago)
@Nacog do you mean Brighton Beach in Brooklyn? they are referring to Brighton UK .. someone clarify please .. thanks ...
Mazaribeiro (8 months ago)
Brighton UK, hence me saying "Now I'm in London"
Andrei Clear (8 months ago)
you mean Brighton Beach in Brooklyn? they are referring to Brighton UK .. someone clarify please .. thanks ...
Gustaf HauRuck (8 months ago)
Ouch, u broke my head!
Ceedy (8 months ago)
The amount of innovation and foundation building in crypto world this year is very exciting. It's like witness history unfold right in front of my eyes, live.
Scott C (8 months ago)
Michael. I trust you, Please name the top two exchanges you trust the most. Thanks! Scott.
nithin prabhakaran (8 months ago)
Scott C Go for Bittrex
A Google User (8 months ago)
I 'm curious as to how we would know what the fair price of the swap is if there wasn't exchanges or if prices become thin due to lack of participation in exchanges? Ie how can we guarantee that we are getting a fair swap?
Antonia Vie (8 months ago)
That is a really good question!
HODL and CHILL (8 months ago)
Any blockcat HODLErs here? to mooon yoww
BTC To The MOOON (8 months ago)
here :D
Michael can u make a review of blockcat i think its gonna be big
NEO Da Hongfei (8 months ago)
got me sum cats today :)
My Happy Sushi (8 months ago)
Loving your traditional fashion style😊👍🏼
Drew (8 months ago)
When are you gonna do live AMA????
SanktGallus (8 months ago)
Did they change the sort of coin by doing this?
Juan M. Villaverde (8 months ago)
Hey Michael! Have you looked into ARK SmartBridges? They seem to perform the exact same function. They have recently applied SmartBridge tech to create ACES which my understanding is you can now send ARK to perform any function on the Ethereum network... Is this the same thing? Seems like there are many blockchains working on this...
Juan M. Villaverde (8 months ago)
Dirk Mueller as a trader myself (not crypto, regular markets thank you very much) I'd say no. Markets allow participants to buy and sell at a price they set, you can bid and offer, arbitrage, etc. The price discovery mechanism is key to having liquidity and efficiency in a market. I don't know what the exchange rate is with atomic swaps AKA who sets that price. Indeed ARK goes beyond swaps with SmartBridges, yet the exchange rate is normally taken from exchange quotes. Without exchanges, how do you replace the price-discovery? OTC deals? If atomic swaps were implemented in such a way that individuals are able to bid and offer prices for exchange rates between two assets than yeah, centralized exchanges would be obsolete. But the exchange itself facilitated price discovery and that function can't be overlooked.
Dirk Mueller (8 months ago)
Good question I believe that ARK is going beyond just a swap as you say preforming any function in any platform via ark, opinions? Furthermore I am asking myself if decentralized exchanges get irrelevant with implementation of atomic swap?
Alan Dos Anjos (8 months ago)
Hey Boxmining do you think ir can be used in some How to bring stok market into Crypto Space?
Mohammed Ansari (8 months ago)
Hey Michael what is your Chinese name? :))
junk bot (8 months ago)
Cho ni ma
hullah3000 (8 months ago)
Mohammed Ansari Mai Kal
bLitzKrieg (8 months ago)
bwahahah
likelight2flies (8 months ago)
hasn't vertcoin already completed their atomic swap with ltc?
likelight2flies (8 months ago)
also, both swap instances saw a temporary rise in price for both decred and vertcoin but nothing for ltc. not even a pump.
KnifiNtheHeart (8 months ago)
likelight2flies not yet
Best Man (8 months ago)
Komodoplatform has done atomic cross chain swaps 1 year ago when ethereum price was $11
Best Man (8 months ago)
https://komodoplatform.com/ https://www.supernet.org/en http://barterdex.supernet.org/
Boxmining (8 months ago)
oh wow. i didn't know that! checking that out
chews4life (8 months ago)
you should join their slack for sure komodoplatform dot com
chews4life (8 months ago)
KMD komodo is ahead. glad to be early Kmd working with bank. how is KNC and 0X compared
Altair (8 months ago)
Unfortunately not many people are aware of it
stavros abraham (8 months ago)
In your opinion atomic swap or smart bridge ?
Anuraj Kumar (8 months ago)
Is this what you call an Escrow ?
Nader Qarini (8 months ago)
oh damn! no need for exchanges? not even decentralised ones? where does this leave the future of Binance?
Sean Harvey (8 months ago)
LTC to the moon
divizionx (8 months ago)
Kababs
Boxmining (8 months ago)
Thanks to the Decred Slack for helping me understand this! https://github.com/decred/atomicswap Keep your Crypto Safe - Ledger Nano S: https://www.ledgerwallet.com/r/428b
Juanzo74 Latin Crypto (8 months ago)
Stack it now while it's 47 bucks
Miner Kasta (8 months ago)
Don't send anything to this guy ! It's not the real Boxmining ! Be careful where you send you money !
WaterClusterDotCom (8 months ago)
SCAM, that's not the real Boxmining
Wak Cackle (8 months ago)
If it's too good to be true, then it's probably not true. I made a complaint to youtube as this is a false advert, or more accurately a con-game.
Steve (8 months ago)
Boxmining I just sent you 7.24 ethereum, did I get in?
Flame Returns (8 months ago)
i agreeeeeee
BentoBoy (8 months ago)
Now that's a clear image :D
WaterClusterDotCom (8 months ago)
SCAM ALERT
CryptoGreg (8 months ago)
poor Michael, ppl spamming comments using your name, they are getting smarter, guys please be careful, almost got me.
Reuben Crocker (8 months ago)
BentoBoy crystal clear aye
CryptoGreg (8 months ago)
what's your camera Michael?
BentoBoy (8 months ago)
Can see every detail! :D ^_^ Love your channel brooo!
Caboose Rooster (8 months ago)
Yay

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