Bitcoin Cash could soon have atomic swaps with other cryptocurrencies. A developer named Deswurstes or MCCCS, has managed to achieve a Bitcoin Cash atomic swap test. In the past, other atomic swaps were performed between different virtual currencies.
Atomic Swaps and Bitcoin Cash
The developer Deswurstes has tested a Bitcoin Cash atomic swap using the Decred/atomic swap protocol. The author published in GitHub a request (pull request #37) where he shows the atomic swap. “The first Bitcoin Cash atomic swap has been made! The test, both participate and initiate, the atomic swap was made as BCC-BCC. Proof at the end of this Pull Request,” he commented.
Some time ago, Charlie Lee, Litecoin creator, announced that they have accomplished an atomic swap between Litecoin and Vertcoin. In addition to it, Litecoin and Decred could successfully complete the first cross blockchain atomic swap.
“When I found atomic swap, it looked like magic to me. I thought it would be cool if bitcoin cash had this feature. First I asked its developers if they were going to implement bitcoin cash support, but they were busy. One or two weeks later, I tried and succeeded in coding my atomic swap dream”, he commented to news.bitcoin.
Atomic Swaps are the Future
Decentralized cryptocurrency platforms just need time to be developed. In places were Bitcoin exchanges are banned, like in China, bitcoin swaps would be a solution to freely exchange cryptocurrencies. Projects like Bitsquare tried to create peer-to-peer trading platforms without intermediaries or administrators.
“When trust-less, decentralized exchanges that have order matching come with good user interface, the atomic swap will replace the current exchanges – Especially Bitcoin Cash – Bitcoin will have high volume,” explains MCCCS.
The atomic swaps are in an early stage of development. They are growing, though. There are more developers and projects working with this protocol. For example, Decred development team keeps testing atomic swaps between Bitcoin Core, Litecoin Core and dcrwallet. The main goal is to encourage users to integrate this technology into their GUI wallets.
Deswurstes also believes that atomic swaps just need to develop a good user interface. In addition to it, projects need to implement an easy way to use this new and prosperous technology. Barterdex and Altcoin.io are two start-ups working on friendlier atomic swap user interface.
“One day, all of the alt-to-alt exchanges will use atomic swaps, because of its safeness and it will be as convenient as the old style trades. There is no reason for them not to use atomic swaps – If they won’t, their users will no longer use them,” concludes MCCCS.