Coinswap is re-branded to OpenSwap.
As the protocol matured over the years, the rebrand is intended to reflect the protocol's broader scope as an open atomic swap mechanism where anyone can participate as a service provider or client.
For the longest time, swaps have been centralized through a central provider. This creates a central points of failure (CPOF). A swap provider can be taken down through regulatory capture or a DoS attack by a bot network, or can even spy on its user, or can censor client requests. As we have seen in recent events involving Boltz, when a central swap provider goes down, service disruptions affect many systems across the industry.
This is where OpenSwap comes in. OpenSwap provides an open protocol for atomic swaps where anyone can provide swap services and earn fees and clients cannot be censored as there is no one single dominant provider. Swap providers are discoverable through a decentralized marketplace embedded in the Bitcoin blockchain and via Nostr. Every swap provider produces a Fidelity Bond so the market cannot be Sybil-attacked.
OpenSwap is designed as protocol rather than a product. The core library exposes all required APIs so anyone can build their own swap interfaces, or any wallet developer can integrate the swap client into their own wallet.
The protocol is designed to be trustless, preserving provider and client privacy at every step. The protocol is fail-proof using HTLC contracts, so any entity can always claim a refund if a swap doesn’t pass.
With this, the new era of decentralized, unstoppable swapping ecosystem can begin. We built the machine, but it NEEDS YOU to run it.
Find below how.