Why Monero Uses a Trustless Setup Unlike Zcash, Why Monero Is a Better Store of Value Than Bitcoin, How Monero Can Overcome Bitcoin's Network Effects, Why Monero Has the Most Critical Thinking Community, What Every Monero User Needs to Know When It Comes to Networking, How RingCT Hides Monero Transaction Amounts, How Monero Stealth Addresses Protect Your Identity, How Monero Subaddresses Prevent Identity Linking, How Ring Signatures Obscure Monero's Outputs, How Monero Solved the Block Size Problem That Plagues Bitcoin, How CLSAG Will Improve Monero's Efficiency, Wired Magazine Is Wrong About Monero, Here's Why, Top 15 Monero Myths and Concerns Debunked, How Dandelion++ Keeps Monero's Transaction Origins Private, Why Monero Is Open Source and Decentralized, Monero Mining: What Makes RandomX So Special, Why Monero Is Better Than Dash, Zcash, Zcoin (Even With Lelantus), Grin and Bitcoin Mixers Like Wasabi (Updated May 2020). A Protocol has Been Developed for Monero-Bitcoin Atomic Swaps. Monero Ripple Live Rates Shop Breaking News [ April 20, 2021 ] Atomic swaps and network upgrades send Monero (XMR) price to a 3-year high Monero [ April 20, 2021 ] … So if you looked at all of this and are still a bit confused about how Monero was able to get around the problem of refund transactions, the answer is quite simple. Recently , Gugger, J. At some point after that, it will be technically possible to trade XMR against BTC, ETH, and other digital assets from different blockchain networks, marking a major breakthrough towards the goal of achieving blockchain interoperability. Because the 2021 bull market cycle unfolds with decentralized finance and nonfungible tokens being two of the most important driving Tuesday, April 20, 2021 – Farcaster is a Bitcoin-Monero atomic swap project. Similar to the other protocol, the process of claiming the Bitcoin reveals her half of the Monero key to Bob. Now Bob does not have the key itself, only the hash, so he can't yet access the funds. An atomic swap is a smart contract technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges. Introducing Farcaster The primary section of the undertaking includes amassing Request for Feedback (RFCs) to formalize the construction of the undertaking. In the specific case of this blog post, the “atomic swap” refers to the process of safely exchanging Monero for Particl, or Particl for Monero, without the help of any third-party. (aka h4sh3d) came up with a protocol which enables atomic swaps between Monero and Bitcoin[10]. Now, since Alice can't access her BTC that she locked away, and Bob won't complete his part of the transaction, Alice just loses her money forever. - - Yes, it is coming. On AtomicDEX, users can trade BTC, ETH, ERC-20 tokens, LTC, ZEC, KMD, and other digital assets directly from their non-custodial wallets. You can think of it like Alice puts her BTC in a lockbox. 84 votes, 32 comments. Monero has also received a significant boost in optimism due to the possibility of atomic swaps between XMR and BTC. What if Alice sends to her lockbox, and Bob decides he doesn't want to trade anymore. He stated that with Monero and Bitcoin, atomic swaps can be achieved with zero-knowledge proofs without having to meet the pre-requisites that are required with other blockchains. Since Monero itself does not have refund transactions, the reader should notice that the Bitcoin (which does have refund transactions) is sent first, and only after it is verified as being on the blockchain is the Monero sent. An atomic swap is a protocol by which two different cryptocurrencies, on different blockchains, can be exchanged in a trustless manner with no intermediary. Monero is a digital currency using CryptoNote protocol emphasizing on privacy and anonymity. The Monero development team is now working on a community-funded Bitcoin–XMR atomic swap implementation project code-named Farcaster, a Reddit update on Nov 13 shows. The Monero Moon is a curated newsletter regarding all things Monero. After several years of refinement, the researchers finalized a process by which Monero would be able to do atomic swaps with Bitcoin, even without refund transactions. 2 days ago. Her key fits! To make a Monero to Particl (or the other way around) atomic swap on mainnet, you’ll first need to find another peer that also wants to do a swap, agree on swap parameters (how many Coin A for how many Coin B), and then simply follow these step-by-step instructions here. Now Bob has both halves, so he can claim the Monero, while Alice has only her half, so she can't try to take it before he does. The story surrounding Robinhood's decision to ban $GME trading isn't just another news story. 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