Join Our Mailing List
Sunday September 24, 2023
Bitcoin (BTC) $26,569.12   Ethereum (ETH) $1,592.64
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Networks & Protocols

COMIT Network makes Monero and Bitcoin atomic swaps available on mainnet

Users can now trade Monero and Bitcoin without needing to use a third party intermediary and without needing to trust the trading counterparty...

Published by CryptoNinjas.net
05/29/2021
COMIT Network makes Monero / Bitcoin atomic swaps available on mainnet

COMIT Network, an open protocol facilitating ‘trustless’ cross-blockchain applications, has announced that peer-to-peer atomic swaps between Monero (XMR) and Bitcoin (BTC) are now available on mainnet. This allows users to trade XMR for BTC without needing to trust an intermediary or the trading counterparty. Users can more easily trade without using a regulated financial institution.

The Monero cryptocurrency is best-known for its private and fungible properties. Unlike other cryptocurrencies, Monero hides the sender, receiver, and amount for all transactions. This allows its privacy protections to grow to cover more transactions than are involved in Bitcoin mixing, Ethereum mixing; and all other “privacy coins” combined.

COMIT is an open protocol for trustless cross-blockchain apps.

Atomic swaps are now live on COMIT Network, however, other similar projects are in development by other teams, including:

  • The Farcaster project raised 2727 XMR (worth $650,000 today) to build out a similar trustless atomic swaps implementation.
  • Haveno, a Monero-focused fork of Bisq, is implementing atomic swaps for their XMR/BTC trading pair.
  • Relatedly, cross-chain bridges have been announced for Secret Network and Thorchain, which will allow for easy trading with Ethereum and Binance Smart Chain tokens.

Limited trading venues despite surging retail user demand for private and fungible money have created a strong demand for these decentralized exchanges. There are more than double as many average daily Monero transactions as there were a year ago.

“The decentralized Monero exchange technology is here, so now it’s a race for wallets to provide the best user experience,” says Justin Ehrenhofer, an organizer of Monero Space, a workgroup that provides services for the Monero ecosystem. “With such high user demand for easy and private peer-to-peer exchanges; it’s only a matter of time before wallets widely implement them.”

A few popular Bitcoin and Monero wallets have exhibited an interest in supporting atomic swaps. Samourai Wallet and Monerujo performed a test swap earlier this month; plus Cake Wallet has also expressed enthusiasm in supporting atomic swaps.

317
SHARES
SubscribeE-MailXFacebookWhatsappTelegramRedditLinkedin
Source: comit.network

Related News

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

08/28/2023
BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

Welcome to the world of BITmarkets - a leading cryptocurrency exchange offering a wide range of trading options for both retail traders and corporate clients. In this comprehensive review, we will explore the various...

Read more

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

HashKey Exchange, the first licensed retail virtual asset exchange registered in Hong Kong, announced its official launch today. Together with executives from the HKSAR government, top-tier banks, insurers, and Big 4 auditing firms, HashKey...

Read more

Adenasoft launches new crypto exchange white label solution: ACE

06/27/2023
Adenasoft launches new crypto exchange white label solution: ACE

Adenasoft, a South Korea-based IT/software company, has just announced the launch of ACE, their new SaaS product designed for cryptocurrency exchanges. ACE fully prepares businesses for exchange operations quickly, taking less than a month...

Read more

Maximize Your ETH Investment: The ETHphoria Vault by Pods

06/21/2023
Maximize Your ETH Investment: The ETHphoria Vault by Pods

This week, the team of Pods, a provider of structured products for crypto assets, unveiled its latest offering - the ETHphoria Vault. This innovative yield strategy is designed explicitly for ETH enthusiasts who are...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Blockstream Mining Bitcoin

Blockstream launches bitcoin mining colocation and pool services

08/08/2019
Blockstream releases new platform for Liquid-sidechain security token issuance

Blockstream releases new platform for Liquid-sidechain security token issuance

05/15/2019
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Zilliqa blockchain combines incubation programs as it announces new grant winners

Zilliqa blockchain combines incubation programs; announces new grant winners

12/03/2019
BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

08/28/2023
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Adenasoft launches new crypto exchange white label solution: ACE

Adenasoft launches new crypto exchange white label solution: ACE

06/27/2023
Maximize Your ETH Investment: The ETHphoria Vault by Pods

Maximize Your ETH Investment: The ETHphoria Vault by Pods

06/21/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy