By: Geeq on Sep 14, 2022
Geeq has developed patent-pending technology for users to conduct trust-minimized and timely atomic transfers without smart contracts. There are overwhelming security reasons to use Geeq’s proprietary technology when the values transacted are large and/or important. These will be available on public mainnet for $Geeq, NFTs, and fungible tokens.
Atomic transfers conducted via smart contracts may be idiosyncratic, specialized, and highly dependent on the developer. Smart contracts typically call other smart contracts as part of their functionality, creating a set of linked dependencies. To be truly secure, the code base of each smart contract in the entire sequence should be audited; however faulty smart contracts have resulted in significant losses to date.
Geeq’s technology uses hash time locked accounts, which facilitate many kinds of atomic swaps. For swaps between accounts on the same public Geeq chain, the atomic swaps have the high security of all standard coin account transactions on Geeq. It is also possible to organize atomic swaps between accounts on different public Geeq chains in a trust minimized way, which is likely to be far more secure than using decentralized smart contract or bridging techniques for the forseeable future.