Monero rate up 32% after cryptocurrency blockchain updаte

Developers of the anonymous altcoin have added the ability to exchange it for bitcoin without intermediaries

Monero rate up 32% after cryptocurrency blockchain updаte

The price of Monero rose 32% after the digital coin’s developers updated its blockchain with an “atomic swap” system that makes it easier to exchange cryptocurrency for bitcoin and vice versa. The updаte was integrated into Monero’s blockchain on August 20. As of August 24, the digital coin is trading at $319 and has a capitalization of $5.7 billion.

Developers note that “atomic swaps” allow Monero holders to exchange the 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 based on the ByteCoin token blockchain developed in 2014. ByteCoin is the first cryptocurrency to use the CryptoNote protocol. It includes mechanisms that allow participants of transactions to remain anonymous.

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