Kyiv-based blockchain payment system Minexcoin announced in March, a successful atomic swap conducted between its native MNX and BTC blockchains. Minexcoin, a payment system based on low-volatility cryptocurrency.
Announcing that it had test-driven Atomic Swaps to the crypto-community, MNX enters the technological “arms race” and moves closer to the creation of a decentralized exchange with convenient, simple mechanics, free of 3rd party involvement, has now gone live for public testing.
MinexCoin recently got its new iOS app passed for the app store, which included a very strict verification process, imposed by Apple. The app is now available for free download on major Apple devices such as the iPhone and iPad. This development comes after Minexcoins first successful atomic swap tests.
MinexSystems CEO Boris Shylyaev stated that this achievement was a result of months of work by the minexcoin core team, continued negotiating with the relevant departments and providing evidence of competencies in a transparent and compliant manner.
Now entering public testing phase, MNX seeks public participation. On their Official GitHub, they have provided protocol code, the latest downloadable wallets, answers to FAQ and coaching. Users are shown how to launch cross-chain exchanges on their personal machines by launching both Bitcoin and MNX blockchains in Testnet mode.
These alternative chains are separate and distinct from actual blockchains (Mainnets). Coins in Testnet do not have any value and allow developers or testers to test new technologies (like Atomic Swap) without worrying about breaking the main chain or risk their assets. MNX developers demonstrate in this video how the atomic exchange works in a console.
What’s Next for Minexcoin
A user-friendly GUI for the Atomic protocol that will soon be available on their website, with the developments from public testing to become the basis for the first version of the trustless exchange. In April, an Alpha version of the GUI will be available with the addition of new exchange pairs such as LTC to MNX or Decreed to MNX. Once testing has been completed, the Testnet (used for its capability demonstration), the developers will transfer the necessary modifications to the MNX Mainnet and conduct a Segwit.
From the Lead Developer
MNX Lead Blockchain Developer, Roman Hulenko believes using a reactive non-blocking programming approach and an event-driven system that can process a large number of events is key to functionality. He sees, the Atomic Swap implementation triggering quality modifications in MNX blockchain and explains that the supervisory nature of the trustless exchange will increase customer comfort. Whilst not having access to customer assets, safety is offered through freedom of third-parties, intermediate links blocking suspicious transactions, user ratings to avoid scammers, and system monitoring.
MinexSystems specializes in blockchain product development. Offering 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.
Visit the Minexcoin website at – https://minexcoin.com