Good news, everyone!
tl;dr: Monero is a cryptocurrency with strong anonymity/privacy protections. This means that if you make a purchase with Monero, no one aside from your trading partner can see any details about the transaction, such as amount, time of trade, ip address, etc.
However, in order to buy Monero in the first place, you typically have to buy it through a centralized exchange, which means that the centralized exchange knows that you've bought Monero and how much you own.
The asmr atomic swap technology technology described below allows anyone to a) exchange Monero for any other cryptocurrency without a centralized exchange b) and without trusting the person opposite the trade.
"Recently, a whitepaper detailing how to perform atomic swaps between Bitcoin and Monero was published. Today, I'm happy to announce a proof of concept implementation! I've spent the last few weeks on it, along with my co-author, PlasmaPower.
It's called asmr, and is available on GitHub. Given the underlying protocol's potential, it isn't only applicable to Monero. Because of that, asmr has been heavily abstracted internally, and it supports a few coins at this point.
The reason it's a proof of concept is it has yet to be reviewed for security. That said, it does implement the success path, as well as the various failure paths, and properly uses SegWit transaction for BTC to remove transaction malleability concerns. We've done our best to ensure it's a viable base for future development of implementations.
We would love any feedback anyone has to offer, and are excited to be able to contribute to the space with this. We want to see Monero atomic swaps be widely utilized in the future. and hope this helps that occur faster."
tl;dr: Monero is a cryptocurrency with strong anonymity/privacy protections. This means that if you make a purchase with Monero, no one aside from your trading partner can see any details about the transaction, such as amount, time of trade, ip address, etc.
However, in order to buy Monero in the first place, you typically have to buy it through a centralized exchange, which means that the centralized exchange knows that you've bought Monero and how much you own.
The asmr atomic swap technology technology described below allows anyone to a) exchange Monero for any other cryptocurrency without a centralized exchange b) and without trusting the person opposite the trade.
"Recently, a whitepaper detailing how to perform atomic swaps between Bitcoin and Monero was published. Today, I'm happy to announce a proof of concept implementation! I've spent the last few weeks on it, along with my co-author, PlasmaPower.
It's called asmr, and is available on GitHub. Given the underlying protocol's potential, it isn't only applicable to Monero. Because of that, asmr has been heavily abstracted internally, and it supports a few coins at this point.
The reason it's a proof of concept is it has yet to be reviewed for security. That said, it does implement the success path, as well as the various failure paths, and properly uses SegWit transaction for BTC to remove transaction malleability concerns. We've done our best to ensure it's a viable base for future development of implementations.
We would love any feedback anyone has to offer, and are excited to be able to contribute to the space with this. We want to see Monero atomic swaps be widely utilized in the future. and hope this helps that occur faster."