Developers can Implement Zero-knowledge Atomic Swaps Between Bitcoin and XMR

News / 14.01.2020

Monero (XMR) gets considered the leader of privacy coins in the cryptocurrency domain, as Bitcoin gets viewed as the leader of the crypto market. However, participants in the Bitcoin community have various receptions for the top fungible coin. Some of them accept that it possesses potential, while others deny it.

Bitcoin and XMR continue to move forward, but atomic swaps between them could happen soon. A developer is involved in the establishment of cross-chain atomic swaps is known as Joel Gugger. Joel Gugger recently spoke with Monero Talk, highlighting the ongoing work and the timeline for its launch.

In the interview, Joel spoke about atomic swaps and claimed that it has two participants’ existence on two different blockchains trade. The aim is to establish a trustless protocol and a successful swap, Joel said.

Joel Gugger on Zero-Knowledge Implementation

Gugger noted Bitcoin and Ethereum swaps; hence the ongoing process between Bitcoin and XMR is not new. He claimed that both Bitcoin and Ethereum possess the capacity to time constraints on the transaction. Additionally, atomic swaps between Bitcoin and XMR are not easy since the latter lacks full scripting capabilities. Therefore, the development team needed to look for new means to establish atomic swaps, Gugger said.

As per Joel Gugger, it is possible to achieve atomic swaps between Bitcoin and XMR, using zero-knowledge proofs without meeting other blockchains’ requirements. He maintained that zero-knowledge is necessary to achieve a trustless protocol.

Gugger pointed out that the team needs help with zero-knowledge proofs because the team lacks complete knowledge. He claimed the possibility of launching the atomic swaps is this year, based on what needs to get done to implement it. Nevertheless, the addition of zero-knowledge proofs may make its launch happen within some weeks since zero-knowledge is the part that is most uncertain in terms of time.

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.