Atomic wallet built-in atomic swap exchange FAQ

Question: What is the difference between exchange, instant exchange and atomic swaps?

Answer

Question: How users will communicate with each other to proceed with atomic swap?

Answer

Place order in the atomic order book — decentralized order book powered by BitTorrent protocol, so users distribute orders peer-to-peer without any centralized servers.

Question: How Atomic exchange works?

Answer
Let’s assume you’re going to proceed with DCR to LTC exchange:

  1. You create Atomic swap order in Atomic wallet
  2. Select order from BitTorrent order book
  3. Enter amount of DCR to receive or LTC to send
  4. You confirm the swap
  5. The second party receives notification
  6. The second party confirms the swap
  7. Your and second party’s Atomic Wallet checks the contract
  8. You both receive your coins

Question: I wish you had an explanation somewhere about how you will make your fee?

Answer

Taker pay:

  • Network fee for contract creation in the first blockchain
  • Network fee for contract redemption in the second blockchain
  • Atomic wallet service fee for successful atomic swap

Maker pay:

  • Network fee for contract creation in the second blockchain
  • Network fee for contract redemption in the first blockchain

If swap is interrupted or failed

Taker pay:

  • Network fee for contract creation in the first blockchain
  • Network fee for refund in the first blockchain

Maker pay:

  • Network fee for contract creation in the second blockchain
  • Network fee for refund in the second blockchain

Question: Are you working on the code only, or the GUI too?

Answer

We are developing an end-customer solution — Atomic scripts code and GUI.