SmartSwap

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.

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.

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.

When a user needs to change one crypto for another, they must have an account on an exchange. In order to make their exchange, they must accept the best price they can find from other traders. Further, if a coin changes in value, the exchange does not adjust the trade to accommodate this; users are constantly exposed to a risk of losing in trades because of a market shift. Currently, users must watch the market to make sure that their trades are not impacted by fluctuations.

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

Using SmartSwap, users trade will always be exact value:value match. If the prices of either coin fluctuate by the time the trade occurs, users will still receive the exact value of their coin in the traded coin.

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}

^{Fig.1 retrieved from (Loir Gal, 2019) Smart Swap Sample Graph.}

SmartSwap is a P2P trading technology built on the Ethereum network. SmartSwap is 100% decentralized, face value exchange. eliminates the need for trust between the parties, overcomes some of the Atomic Swap disadvantages, and is a face value exchange. 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). Using SmartSwap, a user is able to exchange crypto-for-crypto without the risk, hassle or expense or volatility that exists on other cryptocurrency exchanges.

Benefits of the Smart Swap functionality

SmartSwap improves the way in which exchanges are carried out. Currently, exchanges work in the following way:

• At the time of creating the order the trade is BTC is valued at $4,000 and will trade for 30 ETH (~$133 each).
• If the ETH drop value by 5% user will receive 30 ETH, but the value is now $3,800 (~$126 each) - user lost $200.
• Or If BTC increases in value by 5% (to $4,200) the user loses this gain in the trade as they will still only receive 30 ETH (~$133 each), the increase in value is not applied at time of trade - user has lost $200 in value in the swap.

SmartSwap is a P2P trading technology built on the EthereumEthereum network. SmartSwap is 100% decentralized, eliminates the need for trust between the parties, overcomes some of the Atomic Swap disadvantages, and is a face value exchange. 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). Using SmartSwap, a user is able to exchange crypto-for-crypto without the risk, hassle or expense or volatility that exists on other cryptocurrency exchanges.

^References:

^References:

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

SmartSwap is a P2P trading technology built on the Ethereum network. SmartSwap is 100% decentralized, eliminates the need for trust between the parties, overcomes some of the Atomic Swap disadvantages, and is a face value exchange. 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). Using SmartSwap, a user is able to exchange crypto-for-crypto without the risk, hassle or expense or volatility that exists on other cryptocurrency exchanges.

Benefits of the Smart Swap functionality

When a user needs to change one crypto for another, they must have an account on an exchange. In order to make their exchange, they must accept the best price they can find from other traders. Further, if a coin changes in value, the exchange does not adjust the trade to accommodate this; users are constantly exposed to a risk of losing in trades because of a market shift. Currently, users must watch the market to make sure that their trades are not impacted by fluctuations.

SmartSwap improves the way in which exchanges are carried out. Currently, exchanges work in the following way:

• At the time of creating the order the trade is BTC is valued at $4,000 and will trade for 30 ETH (~$133 each).
• If the ETH drop value by 5% user will receive 30 ETH, but the value is now $3,800 (~$126 each) - user lost $200.
• Or If BTC increases in value by 5% (to $4,200) the user loses this gain in the trade as they will still only receive 30 ETH (~$133 each), the increase in value is not applied at time of trade - user has lost $200 in value in the swap.

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, users trade will always be exact value:value match. If the prices of either coin fluctuate by the time the trade occurs, users will still receive the exact value of their coin in the traded coin.

^{Fig.1 retrieved from (Loir Gal, 2019) 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}