Monero (XMR) will be added to Atomic Wallet in the next two weeks according to the announcement by the multi-assets wallet. The decentralized cryptocurrency exchange which is custody free, supports atomic swaps. The digital asset exchange also added the cryptocurrency QTUM on their platform on June 25th. Recently the cryptocurrency’s community proposed that the wallet be remodelled for better usage.
The Monero‘s GUI wallet is not very user friendly, first time users especially, find it extremely difficult to use. It hasn’t yet been specified if the developers will take the community’s proposed ideas. Atomic Wallet announced the news via Twitter and also added that an XMR– BTC swap will happen within 2 months.
An atomic swap or atomic cross-chain trading enables exchanging one cryptocurrency for another via smart contracts. What separates them from cryptocurrency exchanges is that in atomic swaps, transactions aren’t supervised by any centralized intermediaries. These transactions can be either cross-chain or off-chain. Meaning they can occur between the Blockchains of the cryptocurrencies being exchanged or away from the main Blockchain.
Decred and Litecoin created history back in September 2017 when the first atomic swap happened between them. The popularity of atomic swaps have increased exponentially in the Blockchain space since then.
An atomic swap between Bitcoin and Monero will be a turning point in cryptocurrency’s history. It’ll provide a private and easy way to change Bitcoins for a privacy coin like Monero, without involving exchanges.
And, if as they’ve mentioned, Atomic wallets manage to do it, they would’ve played crucial a part in this defining moment. This will come as a blessing to those coins like XMR which have been delisted by several exchanges. The news though has garnered a lot of attention and Twitter users have replied enthusiastically to it.
A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website Penguincoinforum.