First Monero and Ethereum Atomic Swap Completed on Arbitrum

Ethereum Monero Trading
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Ruholamin Haqshanas
Author Categories
About Author

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Source: Adobe/alswart

The first atomic swap between monero (XMR) and ethereum (ETH) has occurred on Ethereum Layer 2 solution Arbitrum, according to data by Arbitrum blockchain explorer Arbiscan and Monero explorer.

Elizabeth Binks, a software engineer at blockchain R&D firm ChainSafe Systems, and contributors have completed the “XMR<->ETH atomic swap project“, marking their first XMR and ETH atomic swap.

Atomic swaps, also referred to as atomic cross-chain trading, are generally regarded as one of the most genuine peer-to-peer (p2p) methods for trading cryptoassets as they allow two parties to trade tokens from two different blockchains without the need for a third party.

Arbitrum is an Optimistic Rollup (OR) – a layer 2 solution – and it is intercompatible with Ethereum. While Ethereum is the base layer or layer 1, those solutions built on top of it are layer 2.  

“With atomic swaps, online users trade cryptocurrencies without needing to trust each other or anyone else,” according to Monero Outreach. 

“Monero atomic swaps are made possible by new technologies and concepts and are being implemented by multiple teams, including a community funded software project called Farcaster and an algorithmically similar effort by the COMIT team,” the article said.

Binks revealed the “XMR<->ETH atomic swap project” on November 15, stating: “It’s relatively simple, most of the heavy lifting occurs in an ethereum smart contract.” 

In late May, atomic swaps between XMR and bitcoin (BTC) went live on mainnet.

____

Learn more:
Ethereum Users Flock To Arbitrum In Search of Scalability
Ethereum and Uniswap Tank Despite Optimism News

All Eyes on Japanese Court as Crunch Monero Mining Case Gets December Hearing

Ethereum Fees Pushed Higher by DEX Trading as Optimism’s Upgrade Nears
Vitalik Buterin Proposes New EIP to Tackle Ethereum’s Sky-High Gas Fees

More Articles

Bitcoin News
Bitcoin Network Activity Drops 15%, Hits Lowest Level in a Year
Tanzeel Akhtar
Tanzeel Akhtar
2025-02-07 20:49:35
Bitcoin News
Poland’s Central Bank Rejects Bitcoin for Reserves, Citing Security Concerns: Report
Hassan Shittu
Hassan Shittu
2025-02-07 19:51:20
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors