The leading privacy-focused cryptocurrency by market capitalization, Monero [XMR], has posted a 20% price surge following the launch of the Atomic Swap implementation program last week.
Earlier on Friday, the Monero Project officially outlined a rollout of the Atomic Swap implementation developed by the cross-blockchain protocol COMIT Network, getting to simplify trades between XMR & Bitcoin [BTC].
Following the launch of Monero Atomic Swaps, XMR has seen a notable surge, with its price rising from around $265 USD on the launch day to an intra-week high of $331 USD. At the time of reporting, the privacy-centric cryptocurrency is trading at $318 USD, down around 2.4% over the past 24 hours, consistent with the crypto tracking website CoinMarketCap. Following a solid bull run trend on leading crypto markets, XMR is up over 50% over the past 30 days.
Monero Project contributor ErCiccione outlined that the newly introduced swap deployment is an advanced technology that permits users to exchange BTC and XMR without counting on a trusted third party sort of a cryptocurrency exchange. “These swaps are called ‘atomic’ as they only have two possible outcomes: either the trade is successfully completed and every trader receives the other one’s funds, or nothing happens and both traders keep the funds they started with,” he outlined.
In line with the official announcement, users can now proceed with testing out XMR Atomic Swaps by downloading the COMIT-designed software. ErCiccione cautioned users that the new swaps “might have unexpected bugs” & recommended testing with small amounts for now.