Golden
SmartSwap

SmartSwap

SmartSwap is a P2P trading technology built on the Ethereum network. The product is developed by Element Zero Network.

SmartSwap is decentralized face value exchange. eliminates the need for trust between the parties, overcomes some of the Atomic Swap disadvantages. It’s secure, easy to implement, protects the user against losses in case of currency rate changes and it doesn’t require blockchains involvement to have code abilities and the same Hash algorithm (like Atomic Swap does).

Product

Exchanges on the Element Zero SmartSwap example; Trade 1 BTC to ETH:

  • At the time of creating the order the trade is BTC is valued at $4,000 and will trade for same value, $4,000 in ETH
  • If ETH drops in value by 5%, the user will receive 31.578 ETH ($4,000) - same face value equal to $4,000 of BTC
  • If BTC increased value +5% user will end up with 31.5 ETH (equal to $4,000) - same face value equal to $4,000



Using SmartSwap, even if the prices of either coin fluctuate by the time the trade occurs, users will still receive the value of their coin in the traded coin.



References:

Element Zero Smart Swap Testnet (n.d) Retrieved from https://www.elementzero.network/ezo-beta/

Element Zero White Paper Update.pdf. (n.d.). Retrieved from https://drive.google.com/file/d/1StAHmFU-kGnCQ7YLUKR5S9HssjYPyz2t/view

Smart Swap: Face Value P2P With Element Zero CTO. (2019, May 08). Retrieved from https://blokt.com/guides/blockchain-guides/smart-swap-face-value-p2p-with-element-zero-cto

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