Monero (XMR), the most important privacy-focused cryptocurrency by market capitalization, has posted a 20% value surge following the launch of the Atomic Swap implementation program final week.
Following the launch of Monero Atomic Swaps, XMR has seen a notable surge, with its value rising from round $265 on the launch day to an intraweek excessive of $331. On the time of writing, the privacy-centric cryptocurrency is trading at $318, down round 2.four% over the previous 24 hours, in response to crypto monitoring web site CoinGecko. Following a solid bullish trend on major crypto markets, XMR is up over 50% over the previous 30 days.
Monero Venture contributor ErCiccione mentioned that the newly launched swap deployment is a model new expertise that permits customers to alternate BTC and XMR with out counting on a trusted third get together like a cryptocurrency alternate. “These swaps are referred to as ‘atomic’ as a result of they solely have two attainable outcomes: both the commerce is efficiently accomplished and every dealer receives the opposite one’s funds, or nothing occurs and each merchants maintain the funds they began with,” he defined.
In keeping with the announcement, customers can now proceed with testing out XMR Atomic Swaps by downloading the COMET-designed software program. ErCiccione cautioned customers that the brand new swaps “may need surprising bugs,” and really useful testing with small quantities.
Launched in 2014, XMR is a serious privacy-focused cryptocurrency designed to assist personal and untrackable transactions. On the time of writing, Monero is the 30th largest cryptocurrency by market cap, valued at $5.7 billion.