Why do we use atomic swaps?

REMME has a dual system of tokens - ERC-20 for circulation on exchanges and for the possibility of their acquisition for the issue of certificates, for example, and the custom REMChain tokens, which are used inside our blockchain. For this, we have an atomic swap mechanism for transferring tokens from ERC-20 to custom, and vice versa.

Atomic swaps allow for the exchange of one cryptocurrency for another without the need for a trusted third party. With traditional cryptocurrencies, a trusted third party such as a cryptocurrency exchange is necessary to perform a swap of cryptocurrencies in order to prevent one party from sending a currency without receiving a currency in return. Atomic swaps in the REMME ecosystem will ensure the decentralization of the process of REM token migration between REMChain and the Ethereum network.