Monero (XMR),
the largest privacy-focused cryptocurrency by market capitalization,
has posted a 20% price surge following the launch of the Atomic Swap
implementation program last week.
On Friday, the Monero Project officially announced a
rollout of the Atomic Swap implementation developed by the
cross-blockchain protocol COMIT, aiming to simplify trades between XMR
and Bitcoin (BTC).
Following
the launch of Monero Atomic Swaps, XMR has seen a notable surge, with
its price rising from around $265 on the launch day to an intraweek high
of $331. At the time of writing, the privacy-centric cryptocurrency is trading at $318, down around 2.4% over the past 24 hours, according to crypto tracking website CoinGecko. Following a solid bullish trend on major crypto markets, XMR is up over 50% over the past 30 days.
Monero
Project contributor ErCiccione said that the newly introduced swap
deployment is a brand new technology that allows users to exchange BTC
and XMR without relying on a trusted third party like a cryptocurrency
exchange. “These swaps are called ‘atomic’ because they only have two
possible outcomes: either the trade is successfully completed and each
trader receives the other one's funds, or nothing happens and both
traders keep the funds they started with,” he explained.
Related: Newly found Monero bug may impact transaction privacy, developers warn
According
to the announcement, users can now proceed with testing out XMR Atomic
Swaps by downloading the COMET-designed software. ErCiccione cautioned
users that the new swaps “might have unexpected bugs,” and recommended
testing with small amounts.
Launched in 2014, XMR is a major
privacy-focused cryptocurrency designed to support private and
untrackable transactions. At the time of writing, Monero is the 30th
largest cryptocurrency by market cap, valued at $5.7 billion.
source link : https://cointelegraph.com/news/monero-price-rises-20-after-atomic-swap-implementation
