Developers Can Achieve Atomic Swaps between BTC and XMR by Implementing Zero-knowledge Proofs

News / 14.01.2020

People consider Bitcoin (BTC) as the leader of the crypto market. Monero (XMR) may likewise be considered the leader of privacy coins in the cryptocurrency domain. Participants in the Bitcoin community have various receptions for the top fungible coin. Some of them accept that it possesses potential while others do not believe in it. Both BTC and XMR continue to move forward but atomic swaps between them could occur soon.

Joel Gugger is a developer involved in the development of cross-chain atomic swaps. He recently spoke with Monero Talk, highlighting the ongoing work and the timeline for its launch. During the interview, he spoke about atomic swaps and claimed that it has to do with the existence of two participants on two different blockchains trade. The aim is to come up with a trustless protocol; it is either a successful swap or no swap at all, he said.

Gugger mentioned that atomic swaps have been between BTC and ETH, hence the ongoing work between BTC and XMR is not new. He claimed that both BTC and ETH possess the capacity to time constraints on the transaction. Besides, atomic swaps between BTC and XMR are not easy because XMR lacks full scripting capabilities. Hence, it was necessary for the development team to look for new means to come up with atomic swaps, he said.

According to Gugger, it is possible to achieve atomic swaps between BTC and XMR using zero-knowledge proofs without the need of meeting the requirements with other blockchains. He maintained that zero-knowledge is necessary to achieve a totally trustless protocol.

Gugger said the team is in need of help with the implementation of zero-knowledge proofs, because the team lacks complete knowledge of it. He talked about the atomic swaps timeline, claiming the possibility of launching it this year, based on what needs to be done to implement it.

However, the addition of zero-knowledge proofs may possibly make its launch happen within some weeks, because zero-knowledge is the “part that is most uncertain in terms of time.”


Featured image courtesy of Shutterstock. Source: Cryptopress.

Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.