CIYAM.org
Atomic Cross-Chain Transfer
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An AT that enables an atomic cross-chain transfer to be executed by creating two separate instances of itself
on two seperate blockchains
I think it's a great idea, but I just can't wrap my head around how it works. :-)
It's not that hard to understand - if two blockchains have both implemented AT then you can use a similar "atomic cross-chain transfer" technique that TierNolan had described for doing the same thing between Bitcoin clones (which unfortunately isn't usable except on testnets because nLockTime is non-standard).
The two AT instances (one on each blockchain) have "timeout refunds" and the need to send a "secret" that both ATs hold the hash of (as you can't reverse a hash the secret cannot be determined except through brute force which would never be practical).
Once the initiator sends the secret to the AT on the second blockchain the creator of that AT sends the secret back to the AT on the first blockchain. As ATs act as their own accounts they automatically do the escrow (and unlike TierNolan's approach there is no issue of tx malleability).
You can read the details here:
http://ciyam.org/at/at_atomic.html