Decentralized Platform Qtum Introduces Bitcoin Atomic Swaps to Its Mainnet
Qtum is introducing Bitcoin atomic swaps to its blockchain infrastructure, which will enable exchange without requiring a trusted third party.
Blockchain platform Qtum is introducing Bitcoin (BTC) atomic swaps to its mainnet infrastructure, according to a press release shared with Cointelegraph Jan. 9.
Atomic swaps are a technology that enables the exchange of one cryptocurrency for another without the need for a trusted third party or centralized exchange infrastructure.
The implementation of Qtum-to-BTC atomic swaps has been achieved with the use of the Hash Time-Locked Contracts (HTLCs) technology and is based on the code of the open-source cryptocurrency Decred. HTLC — according to Qtum’s announcement — are the most secure way of implementing the swaps.
As Cointelegraph reported in February, Qtum is a cryptocurrency platform that supports smart contracts and decentralized applications (DApps). As of press time, Qtum’s own cryptocurrency token is up 2.6% on the day, trading at around $2.39, according to CoinMarketCap data.
One of Qtum’s main differences, when compared to Ethereum (ETH) — arguably the most popular cryptocurrency platform that also supports smart contracts and DApps — is that because the former uses the Unspent Transaction Output (UTXO), its blockchain reportedly enables more lightweight smart contract interactions.
As Cointelegraph reported in December, Qtum awarded $400,000 to a Columbia University research team to fund the development of a smart contract programming language. The language, dubbed DeepSEA, is meant to support “reliable, dependable, and ultimately - adoptable” Ethereum-style smart contracts.