What are Atomic Swaps?

Atomic swaps are a way to exchange one cryptocurrency for another without needing a trusted third party. This can be useful for people who want to exchange cryptocurrencies without going through centralized exchanges, which can be slow, expensive, and vulnerable to hacking. Here's how atomic swaps work: Both parties agree to the terms of the swap and choose which cryptocurrencies they want to exchange. One party creates a "smart contract" on a blockchain that holds the other party's cryptocurrency as…