SmartSwap

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).

Element Zero (EZ) SmartSwap allows anyone to exchange crypto for crypto, without the hassle, risk, or expense of using an exchange. By swapping your crypto using EZ SmartSwap, your crypto will be traded for the exact value needed. Say you need $100 BTC, but you only have ETH? Simply send your ETH to the EZ SmartSwap Contract and receive the exact value in BTC.

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.

^{Smart Swap Sample Graph}

^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}