Join Our Mailing List
Sunday June 04, 2023
Bitcoin (BTC) $27,143.27   Ethereum (ETH) $1,900.21
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Vendor Technology

Equibit demonstrates transfer of security ownership with atomic swaps

Published by CryptoNinjas.net
02/17/2018
Equibit demonstrates transfer of security ownership with atomic swaps

Equibit Group, the creator of the Equibit blockchain and blockchain applications for the global securities industry, announced this week that after nearly a year of development, a live demonstration of the Equibit Portfolio (wallet) has been released, featuring the completion of an atomic swap.

The performance of an atomic swap is significant because it advances the development and security of cryptocurrency trading, further removing the need for intermediaries and points of vulnerability. The crypto community has been working towards the development of atomic swaps, and Equibit Group is proud to be one of the first to complete a live demonstration with a strong user interface.

Equibit CEO Chris Horlacher said:

“Apart from the significance of Equibit Group being able to demonstrate an atomic swap, this demo also illustrates the huge capability of our development team and the potential we have for the future, the best is yet to come.”

With the development of atomic swaps on the Equibit network, investors are able to directly trade bitcoin for the securities of issuing companies peer-to-peer (P2P).

The Equibit network tokenizes securities, making it possible for companies to issue equity and debt using the network’s native coin, EQB. Issuers and investors anywhere can create and transfer securities without the need for a transfer agent or custodian, reducing both cost and friction within capital markets.

Atomic swaps allow for cross-chain trading, transferring ownership of different assets, or cryptocurrencies, without the need for a trusted third party. Without atomic swaps, a third party, such as an exchange, is required to act as an intermediary to ensure that both sides of an agreed transaction are met.

Unlike typical wallets where a user can transfer an asset to another user P2P, atomic swaps allow users within Equibit Portfolio to securely trade different assets P2P without a guarantor, without any off-chain negotiations, or even having to personally know the counterparty.

Using a feature called a hash time-locked contract (HTLC), an atomic swap consists of a series of operations whereby all or nothing occurs; this is what makes the steps involved in a swap indivisible. The HTLC requires each party to perform an action towards the swap within a specific amount of time. If all the actions are not performed within the time limit, the trade will be canceled and all prior steps nullified.

An HTLC on the Equibit network features four transactions between a seller and buyer, ensuring security for both parties. To initiate a transaction, a seller creates an order and broadcasts that message to the network. The first transaction commences when a buyer generates a secret key, then uses the hash of the key to lock their submitted payment. The seller then uses the same published hashed key to lock their securities, creating the second transaction. Seeing the transaction on the Equibit blockchain, the buyer can then unlock the securities using the secret key and send them to their own address. This is the third transaction. The fourth and final transaction within the HTLC sees the seller obtain the now published secret key to unlock the payment.

[embedyt] https://www.youtube.com/watch?v=ve_6cd4vm7M[/embedyt]

27
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Equibit Group releases mainnet for native Equibit blockchain

03/04/2019
Equibit EQB

Equibit Group, developers of blockchain technology for capital markets, recently announced the public release of their mainnet, and with it, the world’s first SHA-3 cryptocurrency. The genesis block was mined on February 21, 2019,...

Read more

Equibit Group announces final round of EQB token presale

11/14/2018

Equibit, the blockchain ecosystem and peer-to-peer securities trading protocol for equity and debt announced today it will fund late-stage development and launch of its mainnet through a final sale of pre-mined native cryptocurrency, EQB....

Read more

Equibit opens new office in Switzerland’s “Crypto Valley”

08/21/2018
Equibit opens new office in Switzerland’s “Crypto Valley”

Equibit, a company applying blockchain technology to establish peer-to-peer equity and debt marketplaces, announced its new office opening in Zug, Switzerland, also known as "Crypto Valley." The Swiss city has an established track record...

Read more

Altcoin.io exchange releases first atomic swap wallet

11/19/2017
Altcoin.io exchange releases first atomic swap wallet

The San Diego-based cryptocurrency exchange Altcoin.io has announced the release of the world’s first atomic swap wallet that will help popularize the function of atomic swaps. Altcoin.io CEO Andrew Gazdecki says, "this technology has the...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Token.io launches new spin-out company focused on digital money solutions

Token.io launches new spin-out company focused on digital money solutions

12/10/2019
Quant Network blockchain integrates Constellation for IoT interoperability

Quant Network blockchain integrates Constellation for IoT interoperability

12/03/2019
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
The Sandbox teams with Hex Trust to enable licensed and secure custody of its virtual assets

The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets

05/10/2023
CoinFlip launches new self-custodial cryptocurrency wallet platform 'Olliv'

CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’

04/28/2023
Crypto exchange Deribit to launch zero-fee spot trading

Crypto derivatives exchange Deribit to launch zero-fee spot trading

04/20/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy