  Since the introduction of Bitcoin in 2008, many other cryptocurrencies have
been introduced and gained popularity. Lack of interoperability and scalability
amongst these cryptocurrencies was and still is, acting as a significant
impediment to the general adoption of cryptocurrencies and coloured tokens.
Atomic Swaps, a smart exchange protocol for cryptocurrencies, is designed to
facilitate a wallet-to-wallet transfer enabling direct trades amongst different
cryptocurrencies. Since swaps between cryptocurrencies are still relatively
unknown, this article will investigate the operation and market development
thus far and query the advantages they offer and the future challenges they
face. The paper contains detailed literature and technology reviews, followed
by the main analysis and findings.
