A legal and regulatory measure, often required, to prevent money laundering. Anti-money laundering measures are especially necessary for the cryptocurrency space since transactions and currency holdings may be completely anonymous.
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 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
A blockchain is a self-affecting database that is protected from modification using encryption, serving as a digital ledger system that records transacted information in chronological order. Although primarily associated with cryptocurrency, blockchain technology is proving to be a revolutionary way to propagate and store data securely: bestowing this technology the potential to revolutionize entire industries.