Good news everyone! Trustless atomic swaps mean that if you can acquire Bitcoin, you can acquire Monero without going through a centralized exchange, and without trusting your trading partner.
"According to what is mentioned in the official statement, the protocol allowing atomic swaps on Monero would in theory already be ready and implementable, but it still needs to be tested on the mainnet. The ultimate goal is to create a client/daemon that can run this new onchain functionality.
Trustless atomic swaps between BTC and XMR could be useful for example for those who own BTC and want to exchange them onchain with a high level of privacy, not obtainable on the Bitcoin blockchain.
Instead, Monero’s blockchain allows onchain transactions with a high level of privacy, so the ability to easily swap BTC to XMR, and vice versa, would allow Monero’s privacy to be used to make transactions in BTC as well.
Moreover, since XMR might in theory have some problems being traded on centralized exchanges in the future, atomic swaps would make it possible to trade directly on DEXs.
The expected duration for the development and implementation of this new feature is 7 months, with a cost of 2,727 XMR, equal to about $319,000.
The development could be completed in the second quarter of 2021.
Three development phases of 6, 14 and 12 weeks respectively have been identified."
https://maxbit.cc/implementation-of-atomic-swaps-financed-the-cryptonomist/
"According to what is mentioned in the official statement, the protocol allowing atomic swaps on Monero would in theory already be ready and implementable, but it still needs to be tested on the mainnet. The ultimate goal is to create a client/daemon that can run this new onchain functionality.
Trustless atomic swaps between BTC and XMR could be useful for example for those who own BTC and want to exchange them onchain with a high level of privacy, not obtainable on the Bitcoin blockchain.
Instead, Monero’s blockchain allows onchain transactions with a high level of privacy, so the ability to easily swap BTC to XMR, and vice versa, would allow Monero’s privacy to be used to make transactions in BTC as well.
Moreover, since XMR might in theory have some problems being traded on centralized exchanges in the future, atomic swaps would make it possible to trade directly on DEXs.
The expected duration for the development and implementation of this new feature is 7 months, with a cost of 2,727 XMR, equal to about $319,000.
The development could be completed in the second quarter of 2021.
Three development phases of 6, 14 and 12 weeks respectively have been identified."
https://maxbit.cc/implementation-of-atomic-swaps-financed-the-cryptonomist/