Qtum has announced a partnership with Beam, within which atomic swaps will be conducted.
Scalable cryptocurrency with a high level of privacy Beam, using technology MimbleWimble, allows for atomic exchanges with other cryptocurrencies, including Bitcoin.
In this regard, the public and open blockchain platform Qtum launched a trial version of atomic swaps using the features of the Beam. This will allow you to perform reliable crosschain transactions between two currencies without the need to involve third trusted parties.
To accomplish the task, Beam uses Hashed Timelock Contracts (HTLC), which prevents fraud during transactions between networks. With HTLC, each transaction is blocked until all conditions are satisfied to ensure its safety and correctness. This tool completely eliminates the need for third-party endorsements.
“Being a publicly available blockchain focused on technical innovations, Qtum promotes the development and application of blockchain technology that guarantees security and scalability.
Back in January, we achieved great success with the integration of atomic swaps with Bitcoin and plan to expand compatibility at the next level with the cryptocurrency that the Qtum community admires. This is the Beam, ”commented QTUM top manager Miguel Palencia.
Beam CEO Alexander Zaydelson also spoke about cooperation:
“The original purpose of cryptocurrency is to provide users with the full sovereignty of their money without any intermediaries. Atomic metabolism technology allows you to implement it.
Thanks to our close cooperation with Qtum, we provide our users with the opportunity to freely exchange Qtum for a Beam without the participation of a third party, which eliminates the risk associated with storage. ”
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