Monero Atomic Swaps

Delton RhodesNovember 16, 2020

The Monero community has recently funded a proposal for implementing atomic swap compatibility, which could make XMR integration into the AtomicDEX protocol a real possibility now in the future.

People are asking, “Does AtomicDEX supports XMR atomic swaps?” The answer is currently “No.” The reason is that atomic swap compatibility for XMR was previously thought to be impossible since XMR doesn’t support timelocks. 

This all changed when Joël ‘h4sh3d’ Gugger presented at the 36C3 conference in December 2019. h4sh3d presented a breakthrough discovery for both Monero and the whole blockchain space timelocks only need to be supported in one of the two chains involved in an atomic swap. For example, this means it’s possible to trade Bitcoin (BTC) for Monero (XMR) using atomic swap technology.

On November 8, 2020, Monero announced that the first proposal for implementing XMR atomic swaps had reached full funding. 137 contributors have funded this proposal with 2,727 XMR (roughly $310,000, as of this writing).

Our motivation to build this software is to empower individuals and businesses, who want to or need to exchange within a strong security and privacy context using P2P, trustless technologies.

Once the Monero developer community completes the atomic swap implementation, XMR will be compatible with decentralized exchanges that support cross-protocol cryptocurrency trading

June 2021 is the tentative delivery date of the minimum viable product (MVP). At some point after that, it will be technically possible to trade XMR against BTC, ETH, and other digital assets from different blockchain networks, marking a major breakthrough towards the goal of achieving blockchain interoperability.

Join The Interoperability Movement

While XMR isn’t yet tradeable on our or any truly decentralized exchange, 99% of other cryptocurrencies in existence are available on Komodo’s AtomicDEX. AtomicDEX is an all-in-one non-custodial wallet and decentralized exchange that has maintained the widest cross-protocol support in the cryptosphere since 2014. On AtomicDEX, users can trade BTC, ETH, ERC-20 tokens, LTC, ZEC, KMD, and other digital assets directly from their non-custodial wallets.