The Liquality Atomic Swap Interface alpha is live on mainnet. The interface offers the most secure way to swap BTC, DAI, and ETH directly from your Ledger or Metamask wallets. Users not only save on unnecessary fees but also significantly reduce counterparty, settlement, and custodial risks.
sjlr3WARNING: 5 - 6 years account age. 0 - 34 comment k3 weeks ago
On top of what u/monokh mentioned, there's a couple of other important differences.
* As opposed to using a DEX-owned smart contracts and infrastructure, Liquality allows users to deploy their own escrow contracts, therefore increasing security, privacy (as only the two people transacting know about the transaction) and sovereignty. This means things like the [Bancor hac](https://www.google.com/search?q=bancor+hacked&oq=bancor+hacked&aqs=chrome..69i57j0l5.1806j0j1&sourceid=chrome&ie=UTF-8)k can't happen as there is no central controlled smart contract honeypot.
* Cross-chain with real btc instead of wbtc, which is a [trusted IOU](https://liquality.io/blog/wbtc-wrapped-btc-or-wat-btc/), without counterparty risk.
* Users can run the swap interface on their own (for privacy and sovereignty) as opposed to relying on hosted infrastructure
* No token required, only the native chain tokens are involved
A DEX in the Ethereum sense of the word usually refers to a set of smart contracts accompanied by a UI that in the optimistic scenario enables trustless exchange only between ETH and ERC20 tokens. For non Ethereum assets (BTC, LTC, privacy coins etc.), it is not possible to exchange these assets with ETH trustlessly using only the Ethereum protocol because they live on separate networks. Cross chain atomic swaps is the mechanism used to enable the trustless exchange of any asset, as long as it supports a set of simple scripting language components. More details here: [https://liquality.io/blog/atomic-swaps-explained/](https://liquality.io/blog/atomic-swaps-explained/)
Like Ethereum, Bitcoin also includes a [scripting language](https://en.bitcoin.it/wiki/Script) that has support for various operations. This allows the construction of smart contracts like [Hash Time Locked Contracts](https://liquality.io/blog/hash-time-locked-contracts-htlcs-explained/) which is used by this protocol natively to secure the BTC funds.