Atomic Swap

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A decentralized, trustless mechanism that allows individuals to exchange one cryptocurrency for another between blockchains through the use of a smart contract. Atomic swaps are peer-to-peer where the smart contract acts to prevent a malicious party from taking currency from the person who initiates the deal.

 

Bitcoin

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Bitcoin is most known for being the first cryptocurrency and blockchain officially released in 2009. Bitcoin as defined by its creator Satoshi Nakamoto: “a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution… We propose a solution to the double-spending problem using a peer-to-peer network.” https://bitcoin.org/bitcoin.pdf

 

Burn

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The act of removing coins from circulation by sending a specified amount of tokens to a public address, native to its blockchain, where the private keys are unknown. By doing this the quantity of token's burned are visible to the public but unretrievable. This method is used by companies to provide proof of burn when creating a new token or rewarding token holders.