After the implementation of atomic swap, the price of Monero rose by 20%

Currency (XMR) Is the largest privacy-focused cryptocurrency by market capitalization. After the Atomic Swap implementation plan was launched last week, its price soared by 20%.

On Friday, the Monroe project officially Announce The launch of the atomic swap implementation developed by the cross-blockchain protocol COMIT aims to simplify the transaction between XMR and Bitcoin (Bitcoin).

With the launch of Monero Atomic Swaps, XMR has seen a significant surge, with its price rising from around US$265 on the day of launch to a weekly high of US$331.At the time of writing, privacy-centric cryptocurrencies are Transaction According to data from the crypto tracking website CoinGecko, the price of Bitcoin is $318, which has fallen by about 2.4% in the past 24 hours.Following Strong bullish trends in major crypto markets, XMR has risen by more than 50% in the past 30 days.

Source: CoinGecko

ErCiccione, a contributor to the Monero project, said that the newly introduced exchange deployment is a brand new technology that allows users to exchange BTC and XMR without relying on trusted third parties such as cryptocurrency exchanges. “These swaps are called’atomic’ because they have only two possible outcomes: either the transaction is successfully completed and each trader receives funds from the other person, or nothing happens and both traders keep them Initial funding,” he explained.

Related: Developers warned that the newly discovered Monero vulnerabilities may affect transaction privacy

According to the announcement, users can now continue to test the XMR atomic swap by downloading the software designed by COMET. ErCiccione warns users that the new swap “may have unexpected errors” and recommends a small amount of testing.

XMR was launched in 2014 and is a major privacy-centric cryptocurrency designed to support private and untraceable transactions. At the time of writing this article, Monero is the 30th largest cryptocurrency by market capitalization, valued at $5.7 billion.