For quite some time, trustless, cross-chain trades called atomic swaps have been a holy grail of sorts and a number of blockchain developers have worked on making them a reality. According to the developers from the Monero project, atomic swaps between bitcoin and monero are now accessible via the COMIT team’s asb software.
Cross-Chain Swapping Bitcoin and Monero in a Trustless Fashion
The Monero project has announced that bitcoin (BTC) < – > monero (XMR) atomic swaps are now available via an implementation created by the COMIT network. The announcement was written by Monero developer Erciccione who explains that the “atomic swap implementation developed by the COMIT team is mature enough to be used on Monero’s network.”
The developer’s post comes with instructions on how to leverage the atomic swap protocol and users need to utilize a program developed by the COMIT team called “asb software.” Erciccione also asked people to start testing the protocol and to “let [developers] know if you find any issues.” The developer emphasizes that the software is new and may have “unexpected bugs.” “Be careful and only test with small amounts,” the Monero protocol developer insists.
Bitcoin to Monero Atomic Swap Protocol Can Be Leveraged With the Privacy-Centric Tor Network
Monero has seen an increase in value since this feature was announced. Year-to-date, monero (XMR) has gained 226% while over the last month, XMR is up 42%. The Monero network is well known for its privacy attributes that are active by default as users do not have the option to send transparent transactions. Obfuscated XMR transactions are delivered by using ring signature technology, “bulletproofs,” and stealth addresses. A number of other privacy-focused coins have also seen significant monthly gains.
The atomic swap announcement details that the protocol works over the Tor network so users can gain even more privacy during the swap operation. Erciccione says that in order to find swap providers with liquidity, unstoppableswap.net offers BTC < – > XMR atomic swap services for those who have read up on how to use the protocol properly. Other teams that have advanced atomic swap technology include blockchain projects like Komodo and Zcash.
What do you think about the bitcoin to monero atomic swap protocol? Let us know what you think about this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.