You may have heard about atomic swaps in a whitepaper, but what are they? Simply put Atomic Swaps are peer to peer transactions where users can "swap" any cryptocurrency for any cryptocurrency. There are many that claim that this technology is coming, but there is one team that already has claim to this working technology, in fact they made an exchange that runs purely on Atomic Swaps: Komodo Platform's Barterdex. Here I will show you the basics of completing a swap on Barterdex using Komodo and a Komodo Asset Chain, Equaliser.
Download, extract and open Barterdex.
Get your passphrase and Write it down twice. placing each copy somewhere safe.
Once you are in you can deposit Komodo to your account.
After that click the Add Coins button
Scroll down (in this case) until you see Equaliser and click on it and you will see a box that says electrum next to it. Click that and select Native.
Your screen should now look like this. We will now click on the exchange tab for Equaliser.
You want to buy Equaliser using Komodo, so click an order on the Seller's side which will automatically input the price. Then you will want to make sure that the Manual Offer tab (Orange tab between auto-bot and trade history) is selected.
Enter in the amount of EQL you want to purchase (in this case we chose 500) and click Buy. You should see a screen like this.
This only confirms that the trade has been proposed. So here's where people get confused. These swaps aren't exactly instant, they take a few minutes to register as it is peer to peer (think of it like when you were killing your parents computer with Limewire and you had to wait for peers to connect so you could download a file) but after a few moments have passed you should be able to scroll down and see the transaction history
Once you see RealTime in the transaction history, click on details.
You will then see the screen more than likely like this as the sellers end is ready but it is waiting on buyer's payment. Just be patient, I generally check something out for a few minutes. If the Connection is made it will then look like this after a few minutes.
Congratulations! You have now made your first atomic swap!
Side Note: depending on the amount of KMD you deposit at a time you may have to make additional deposits within barterdex. this is an error message that is common in barterdex but generally a few minutes after you do it, you can go back in and perform the swap with no further issues.
I would also like to take a second to invite anyone reading this to go look at www.equaliser.org and read the whitepaper as it truly is a world changing project. Happy swapping!