On June 4, Atomex, a non-custodial Multicurrency HD wallet announces the launch of Atomic swap cross-chain Hybrid DEX for Windows, Linux and Web platforms.
According to the announcement, Its hybrid type DEX allows to create cross-chain deals between different cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Tezos without the need to trust third-party providers, custodians or chains (without any pegged tokens).
“We believe that cross-chain Decentralized exchanges will be a widespread alternative to centralized ones” – said Igor Matcak, co-founder and core developer of Atomex. “No doubt it will facilitate decentralization of cryptocurrency trading. DEXs such as Uniswap are widely used in the Ethereum blockchain, where tokens are traded directly through smart-contracts. Users interact only with the Blockchain. And we’ve made it possible to exchange coins between different blockchains through atomic swaps without any intermediate tokens.”
Atomex is an open-source project of the Baking Bad team, known in the Tezos community as one of the most active developer tools contributors. Earlier the project received a grant from the Tezos Foundation to develop the program modules for Atomic swap with Tezos tokens.
The atomic swap was first introduced by Tier Nolan on the BitcoinTalk forums in 2013. Nolan outlined the basic principles for cross-chain cryptocurrency swaps by using simple cryptocurrency trades across different types of blockchains.
An atomic swap is a smart contract technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges.
Atomic swaps can take place directly between blockchains of different cryptocurrencies, or they can be conducted off-chain, away from the main blockchain.
In September 2017, atomic swaps captured the attention of the cryptocurrency community at large when Litecoin founder Charlie Lee announced the successful execution of an atomic swap between Litecoin and Bitcoin over Twitter.
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