Samourai Wallet sponsors Monero-based decentralized exchange

The organization behind the Samourai Wallet will support the decentralized exchange Haveno, which allows you to exchange bitcoin (BTC) for monero (XMR).

Samourai Wallet says it will sponsor Haveno, in response to the stance taken by the developers of Bisq, a popular non-custodial bitcoin exchange. Regarding the alleged priority use they want to give to Liquid, from Blockstream, as the base network of operations.

Samourai defend operate primarily on layer 1 of Bitcoin, according to what they say in the announcement of this sponsorship the sponsorship they will give to Haveno.

Our concern has never been blind maximalism. Our interest is to identify and solve the problems of bitcoin users who want to interact privately on the public network with tools that work today.

We believe that Haveno-DEX has the potential to solve the problems of Bitcoin users.

Samourai Wallet.

In response, Bisq’s creator, identified on Twitter as “Wiz,” responded by denying Samourai’s allegations. Wiz claimed that actually do not consider Liquid as the “base” layer of Bitcoin, and that Bisq would be designed both to work in Liquid and with the blockchain or layer 1 of Bitcoin. Both options will follow being available for what the user wants, to free choice.

What is Haveno, the decentralized monero exchange (XMR)

On Haveno’s GitHub, it is explained that for now it is only a proof of concept, with a view to continuing to grow based on community input. Haveno is a decentralized exchange that would allow to exchange fiat for XMR, and also other cryptocurrencies for XMR, among those Bitcoin.

Haveno is in fact a fork from Bisq, they detail on their GitHub. “We believe that Bisq is not enough for Monero users who urgently need access to Monero exchanges for other cryptocurrencies,” the statement read.

Haveno is built on top of Monero, which means that all transactions between users are obfuscated by default. Bisq is a Bitcoin-based system and inherits the design disadvantages of Bitcoin, for example:

-That all Bisq transactions are based on Bitcoin, which makes them slow and traceable.

-Bisq transactions are unique and easily viewable on the blockchain. This means that it is trivial to check which transactions are the result of exchanges on Bisq.

Transaction fees will also drop dramatically, which are lower on Monero compared to Bitcoin (Monero’s average fee is $ 0.003, while BTC’s is $ 9).

Port.

In your section of frequent questions (Frequently Asked Questions, FAQ), Haveno says that it does not intend to configure itself as a Decentralized Autonomous Organization (DAO), using a token such as Bisq’s BSQ. They claim that instead, use multi-signature schemes, so as not to have to issue a cryptocurrency on a hypothetical confederate network of this exchange.

For its part, Samourai Wallet assured on Twitter that it will remain a Bitcoin wallet, and that to use Haveno you will need a Monero wallet. Despite the criticism, he says, they will be financing Haveno considering that users need privacy options for the most varied scenarios.

Monero (XMR) is one of the favorite cryptocurrencies of those who seek more privacy in their transactions. Source: envato.elements.com.

Haveno is a project that awaits the open support of the community, to develop together with its users. They even have a rewards program to resolve issues or tasks in the project code repository.

General discussions are taking place on IRC (Internet Relay Chat) Freenode, through the channel #haveno: haveno.network.

This project is yet to be finalized. Meanwhile, Bisq It remains one of the decentralized exchanges most used by those who seek privacy and practice self-custody of their funds.

The software It is Tor compatible and can be hosted on Bitcoin nodes, also without requiring compliance with “Know your customer” standards (Know Your Customer or KYC), but some users might be more comfortable with Haveno instead.

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Samourai Wallet sponsors Monero-based decentralized exchange

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