In the cryptocurrency environment, swaps refer to the direct transfer of coins between users (“wallet-to-wallet”) according to the peer-to-peer model (P2P), i.e., without the use of intermediaries (intermediation) such as crypto exchanges. The procedure requires a high degree of interoperability of DLT technologies and is considered to be disruptive (disruption) for payment transactions.
More Term Definitions
- ZCash Definition
- Wallet Import Format (WIF) Definition
- Alipay
- Legitimation Definition
- Merchant Service Charge (MSC) Definition