The first ever off-chain atomic swap between Bitcoin and Litecoin has been successfully completed, according to news sources. The swap is particularly important because it was made off chain, meaning that ownership of the coins changed hands, but there was no transaction recorded on either Blockchain. According to Litecoin founder Charlie Lee:
“Previous atomic swaps that I have done were on-chain, and had the on-chain limitations of slow [transactions] and high transaction fees. Off-chain atomic swaps are significantly better. They are instant, [have] low fees, and better protect one’s privacy.”
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Read Full: First BTC-LTC Lightning Network Swap Completed, Huge Potential
