Minexcoin, the Kyiv-based blockchain system based on low volatility cryptocurrency has announced public testing for its latest feature, atomic swaps.
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Recently, a successful atomic swap between MNX and BTC blockchains was conducted, after rigorous internal testing of operations. The next step for the team is to run a limited release of it, allowing the crypto community to test drive the new technology.
The data and feedback gathered from this stage should prove invaluable for the team working on creating a decentralized exchange, one that would allow two parties to trade without the need of a third party.
“To put an event-driven system in order our code uses the idea of a reactive non-blocking programming approach. It is good for processing a large number of events, which makes our solution functional. Also, it has to be highlighted that Atomic Swap implementation will trigger quality modifications in MNX blockchain itself”.
While the community will help test the protocol, Minexcoin’s team will continue to work on a user-friendly GUI for the Atomic protocol. Minexcoin is expecting heavy user demand from this feature once it goes public, and wants it to be as accessible as possible for the most amount of people.
This will be the basis for the first version of the trustless exchange, with this alpha release being released sometime in early April. During these public tests as well, further currency pairs, such as LTC to MNX or DCR to MNX will be added as well.
First and foremost, it is due to the safety of our customers. With the launch of a final product, our trustless exchanger will not only improve the comfort of the exchange processes but will also work as a “supervisor”. Thus, all transactions will be carried out without the third party, but our intermediate link will be entitled to block suspicious transactions, expose the user ratings to avoid scammers, and monitor the security of the system without having access to the user’s assets”.
Once this testing period concludes, the group will focus on making atomic swapping live on the mainnet as well (for the moment, Atomic Swapping is only available on Bitcoin and Minex testnets) as integrating SegWit into the network as well.
When live, many users interested in Minexcoin will flock to the project thanks to the simplicity of exchange BTC for MNX. Combined with MienxBank, Minexcoin’s autonomous algorithm that controls the volatility of the coin, users could effortlessly exchange other cryptos into MNX during times of economic uncertainty.
“Minex Systems Limited”, a Hong Kong registered company, specializes in blockchain product development. The company offers solutions which work on the unified MinexSystens ecosystem and include the best of both conventional financial and crypto worlds. To date, the company’s flagship products are Minexcoin cryptocurrency and MinexBank, an autonomous algorithm for controlling the volatility of the coin.
For more Information, visit the Minexcoin website at – https://minexcoin.com
Follow Minexcoin on Twitter – https://twitter.com/minexcoin
Connect on Telegram – https://t.me/minexcoin
Minexcoin on Medium – https://medium.com/minecoin-blog
Thread on BitcoinTalk – https://bitcointalk.org/index.php?topic=1847292.0
Check out Minexcoin on Github – https://github.com/minexcoin/minexcoin
Find Minexcoin on Facebook – https://www.facebook.com/minexcoin
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