The Monero to Bitcoin Atomic Swap is now Live: What does it mean?
Two irrefutable facts: Monero and Bitcoin are giants in their categories.
They enjoy the first-mover advantage and are liquid.
Bitcoin maintains its basic form. All BTC transactions are transparent, but it is the most valuable and widely adopted with complex projects because it was the first.
Monero is also liquid and improves on Bitcoin. Instead, their integration of transaction hiding techniques makes XMR transactions hard to track.
For this, Monero is opposed by regulators who insist on compliance with KYC and AML as a means of fighting illegalities and bringing to book tax evaders.
Accordingly, regulators in most jurisdictions have scared exchanges from listing the coin.
XMR holders need not worry anymore.
The Monero and BTC Bridge launch, enabling atomic swapping by the COMIT Network, is a game-changer.
Why is this? Atomic swapping means XMR and BTC holders can swap those tokens trustlessly without relying on a third party or an intermediary.
Swapping will still uphold the privacy of holders.
It is a massive boost for Monero, with supporters saying the activation in the mainnet of the atomic swapping feature is historic.
Traders of the XMR/BTC pair should expect the pair's liquidity to increase significantly and XMR price support in the coming weeks and months.
The beginning of private DeFi?
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