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COMIT Launches Monero-Bitcoin Atomic Swaps on Mainnet

CryptocurrencyMay 30, 2021 09:00AM ET
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© Reuters. COMIT Launches Monero-Bitcoin Atomic Swaps on Mainnet

  • COMIT Network launched Monero and Bitcoin atomic swaps to mainnet.
  • COMIT is the first network to implement atomic swaps on mainnet.
  • Atomic swap enable trustless cross-chain trades.

COMIT Network has launched an atomic swap for Monero and Bitcoin on its mainnet. Users can now trade Monero and Bitcoin in trustless peer-to-peer trades.

To clarify, atomic swaps allow cross-chain trades without needing a trusted intermediary or a trustworthy partner. As such, atomic swaps help eliminate the risk associated with using centralized exchanges (CEX). This is important because it is not uncommon for crypto exchanges to fall victim to hackings.

In an official report, COMIT disclosed that the network beat several rivals to be the first to bring atomic swaps to mainnet. Notably, Farcaster and Haveno are both at varying stages of developing alternative atomic swap projects. What comes next is the implementation of the atomic s...

This article was first published on coinquora.com

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COMIT Launches Monero-Bitcoin Atomic Swaps on Mainnet
 

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