Anonymous altcoin developers added the ability to exchange it for bitcoin without intermediaries.
Monero (XMR) price has risen by 32% after the developers of the digital coin updated its blockchain with an atomic swap system that makes it easier to exchange cryptocurrency for bitcoin and vice versa.
The update was integrated into the Monero blockchain on August 20. As of August 24, the digital coin is trading at $ 319, and its capitalization is $ 5.7 billion.
The developers note that “atomic swaps” allow Monero holders to exchange cryptocurrency for bitcoin and vice versa directly with the final recipient, without intermediaries in the form of exchanges or other users.
The transaction is considered completed only if both users receive digital coins as a result of the exchange. In other cases, the system cancels the transaction and returns the cryptocurrency to the users.
Monero (XMR) cryptocurrency was created on the basis of the ByteCoin token blockchain, developed in 2014.
ByteCoin is the first cryptocurrency to use the CryptoNote protocol.
It includes mechanisms that allow transaction participants to remain anonymous.
