‘skullog 1.0.3 Explaining Atomic Swaps

So.. what is an atomic swap? An atomic swap from directly within the Beam wallet is a means of transacting Beam privately and securely, on the immutable Beam blockchain without the need for a third party or bank to allow you to make the transaction. A basic how-to connect your Beam and BTC electrum wallet can be seen here: https://www.raskul.com/beam-swaps Creating a swap offer on the public swap board within the wallet is quite self-explanatory however, this little run-through will guide you through completing the swap offer via the wallet, without the need to publish the offer on the public board (for instance, if you have already agreed to send some Beam to a friend, who will be paying you in BTC).

Once you have decided and agreed on the rate that you are swapping Beam for BTC or BTC for Beam, then you need to create the offer, by clicking the “CREATE OFFER” button in the Atomic Swaps tab of the wallet

From there you will be taken to the creation screen, as you can see below, I have collated an example swap to offer 1Beam for 1BTC.

You can now expand the bottom arrow where it shows “Your swap token” and you will see the private swap token that you can send privately to your friend…

Clicking the “COPY SWAP TOKEN” button will add the actual token to your clipboard, ready to paste into a private message to your friend. 6xfKWHUEj3k5M6UKum8zEDDUqJwNjQuvgeT8Eq8jPQtDwm7PPSV3GGYxughJJV54ExUxsX7XVARiRLJyJy9itQwcaEREZuf4yKryiwQ2AAwFLJV1UeKeZ2EoEotaHKs5sTb3j2Y5dmY1YQvBPkXr3CNv48mMfXoYdACLfT2

(note this token will likely have expired now!) Your friend will then only need to paste the swap token into their wallet by clicking “ACCEPT OFFER” button…

And they can paste the token in…

The swap will then be shown and your friend can accept it.

For obvious reasons, I could not accept my own token!

Simple! Fully private* atomic swaps between Beam and BTC *note: the BTC side will be visible on the BTC blockchain, due to the nature of this public ledger.

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