The peer to peer cryptocurrency swapping platform Liquality has made its atomic P2P swapping interface alpha live for BTC, ETH, and stable coin DAI on its mainnet. The latest move is updated through the blog, published on the company’s website on June 24, 2019.
As per the blog, now there is no need to suffer from any friction, risk, and gradual cost from the third party because Liquality is offering a new interface as a solution which crypto investors can use freely without the cost of mediation. With the use of atomic cross-chain, the swapping of BTC, DAI, and ETH can be made directly from their Ledger and by using Metamask wallets.
What Does Liquality Mean By Atomic Swap?
According to the website, an atomic swap is a facility which enables the two or more users in a P2P method to swap the cryptocurrencies without the need for centralized exchanges, decentralized exchanges, other financial facilities like OTC escrow and custody solutions. The proposed solution by Liquality would minimize the requirement of the third party settlement processes and further pull down the cost involved in the process of programmatic escrows (HTLCs- Hash Time Locked Contracts), this would also result in the low custodial risks.
How to Access the Liquality Atomic Swap Interface
Liquality has made its open source platform with the help of its contributors where the codebase is fully open and accessible for all the observers and users. The blog further claims that there is no need to trust any third party service provider not even its platform contributors in order to maintain greater privacy and financial sovereignty.
To get the interface, users can either run a self-hosted version or can get aid with the downloaded web app link displayed in the data. The code is also available on the Github, where the users can easily download the required pack for (.dmg for Mac, .AppImage for Linux, .exe for Windows). In addition to the information, there are various steps mentioned in the blog where users can get the maximum knowledge, not only about the accessibility process but also about various terminologies which are important to understand this new service and other literature related to the centralized and decentralized exchange concept, atomic swaps and hash time locked contracts.
The blog apart from mentioning the updates regarding the new atomic swap launch solution and improvements in the existing Liquality platform also indicates the forthcoming services or new features that would be soon available to the users in the approaching months. Some of the mentioned features are: integration of Trezor, support of Segwit , provision for Litecoin (LTC) and other privacy tokens in addition to BTC, ETH, and DAI stable coin; implementation of custom parameters for lock times, mining fees, etc; automated swap function which would ostensibly eliminate manual input, onboarding guide for the Atomic Swap Interface, and display of more technical documentation.
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Image Source: Twitter/Liquality
Tags: Liquality, BTC, ETH, DAI, Cross-Chain, Atomic Swaps, P2P, HTLCs- Hash Time Lock Contracts, Cryptocurrency, Blockchain, Digital Assets, Metamask Wallets,