- The Saturn Protocol enables atomic swaps between Ethereum and Ethereum Classic to enable decentralized trading.
- This feature allows users to have full control of their funds during the transaction process across the two blockchains.
Saturn Protocol developers have announced the launch of a new feature that allows users to conduct cross-chain atomic swaps. By enabling decentralized exchanges between the users of two chains, the feature becomes a medium for value transfer between two different and isolated blockchains.
An atomic swap is a protocol that allows two untrusted parties to carry out a transaction of value without depending on a third party, such as an exchange. The swap protocol prevents either party from defaulting on the terms of a trade. In this sense, atomic swap transactions are either fully completed or reversed.
Peer-to-peer trading between Bitcoin, Ethereum, ETC and Litecoin
According to the developers, the feature allows users to exchange value between Ethereum and Ethereum Classic, Ethereum and Bitcoin, and even Decred and Litecoin. However, Saturn will start implementing the solution with the first pair mentioned above and then offer atomic swaps for the DAI/ETC and USDT/ETC pairs. Of these pairs, Saturn will gradually adapt the exchange medium for other blockchains.
According to Saturn developers, the swap between the DCR/LTC pair was the first atom swap completed between two chains three years ago. The Saturn team further said the following:
Ensuring that cross-chain atomic swaps actually work at scale is both a technical problem and a user experience challenge. Without easy access to liquidity there would be no successful market. We are finally at a point where our fundamental blockchain research combined with the power of Saturn's rings will provide cross-chain liquidity (…)
According to the developers, Atomic Swaps offer numerous advantages that are not offered by third parties, such as centralized crypto exchanges. The user of cross-chain atomic chain swaps has full control over the funds used in the exchange process. This way he can suspend the money transfer at any time:
This is the new, hack-proof, cryptographically secure way of cryptocurrency trading that completely eliminates counterparty risk. Unlike using centralized exchanges, your funds will never be stolen by hackers.
The Ethereum Classic team celebrated the launch of the protocol on Twitter. As CNF reports, Ethereum Classic has implemented a series of hard forks to increase its compatibility with Ethereum. The last two updates, Atlantis and Agharta, were successfully activated. The last one, Agharta, was activated on January 12, 2020 at block 9,573,000, integrating the opcodes of Ethereum's Constantinople and St. Petersburg hard forks into ETC's mainnet.
https://twitter.com/eth_classic/status/1253151607048466432
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