New tech: Why Chinas platform ban (or any other) doesn't matter (Atomic Swaps)

[Rodru1]

There is a new technology. Its called "cross-chain atomic swaps". You won't need any platforms or exchanges.

News article about atomic swaps:
http://www.newsbtc.com/2017/09/21/atomic-swaps-litecoin-vertcoin-works/
This tech allows to exchange value without the need of a middleman like a chinese platform or any other crypto-platform.

Litecoin & Vertcoin and even Decred are working to implement it. Its working with cryptocurrencies which already integrated SegWit. Maybe the next one will be BITCOIN.

[Falgorn]

Very interesting and timely technology. If it allows you to make transactions without the participation of any platform, this is very good. The Crypto currency is not tied to a separate state and so, I hope, it can not be kept in one country. If this technology allows to bypass all platforms that the state could prohibit, then the government of China with its prohibitions and restrictions obviously will not work.

[StevenRA]

Bear in mind that this doesn't necessarily solve everything. More likely to just trigger a tech innovation war between crypto users and governments like China.

[Scorpion]

Great timing of the arrival of atomic swaps, I am going to continue to read and learn about this new technology - this is very exciting. China can go eat it haha.

[Ucy]

More decentralization is what we hope for. Chinese politicians wouldn't have done what they did if things were very Decentralized as the father of Cryptocurrency wanted. Every Crypto stakeholder should be encouraging Decentralization not the opposite.
Hope it's really what you guys say it is.

[pooya87]

Atomic Swap is awesome but it only works for a handful of altcoins most of which are not even good! the only one worth mentioning is litecoin. and these can never replace traditional trading on an exchange where you can place orders and have an orderbook and see everything in the traditional way.

[panju1]

If China can find a way to restrict even the internet, through the great firewall of China, then they won't hesitate to try and block any new tech. It all boils down to how determined they are.

[Rodru1]

Here Litecoin confirms his first successful atomic swap with James Lovejoy lead developer of Vertcoin
https://twitter.com/SatoshiLite/status/910679160695091201

And great article about the new ecosystem:
https://cointelegraph.com/news/segwit-first-steps-to-ecosystem


First participating coins are Bitcoin, Vertcoin, Litecoin and Decred.
Vertcoin seems to be the most undervalued one.