Monero (XMR) can now be called the most private and untraceable crypto currency in the whole ecosystem. Service XMR.TO offers a service that allows anonymous payments in bitcoins. The founder of the service recently told Monero Monitor about the further development of this project.
Monero uses a reliable cryptographic system that allows you to send and receive funds so that transactions are not visible in the blockroom publicly. This is provided by using the technology of "Ring Signatures" (Ring Signatures). It is highly unlikely that a Monero transaction can be tracked and linked to a specific user.
Now, three years after the launch of Monero, we see an expansion in the development of services that use this crypto currency as their primary means of settlement. One of these services allows bitcoin users to make anonymous payments. Through XMR.TO, bitcoin users can use Monero as the base currency, and the payment will be sent in bitcoins.
The creator of XMR.TO, Jeremy Dubois-Lacoste, stresses that he immediately saw a huge potential in Monero, as this crypto currency has bypassed many of Bitcoin's limitations. Since one of these limitations is related to confidentiality issues, Jeremy, known online as BinaryFate, saw the opportunity and began to develop this new service in the hope that this could be useful for both crypto currency.
Jeremy says: "The goal of the service is to allow XMR owners to translate them to a huge number of users, so you need to find users who take bitcoins and use the same services."
Service is interesting due to the fundamental characteristics of Monero. The service is unidirectional and works like ShapeShift, but only accepts XMR and sends BTC.
Since payments in bitcoins are open, XMR.TO payments made on behalf of the user will be visible in the transparent chain of Bitcoin blocks. However, thanks to the built-in Monero properties, no one can connect one of these transactions to a specific user. The only thing XMR.TO can learn about their customers is their IP-address.
XMR.TO is available through TOR and I2P, their users can completely hide information about themselves. But even so, the company clears its logs every three days, which ensures complete anonymity for users.
Bitcoin has long been unable to provide complete confidentiality to its users. Simple "mixing" of transactions through services-mixers are unreliable and do not solve the task of anonymity. XMR.TO may well be the ideal tool for anonymizing payments, which already has an extension for Chrome, similar to ShapeShift Lens, and in the future it is planned to include integration functions in other wallets, including MyMonero from fluffypony.
https://getmonero.org/home
https://getmonero.org/knowledge-base/moneropedia/ringsignatures
https://xmr.to/
https://www.reddit.com/r/Monero/comments/66wnwy/chrome_extension_xmrto_lens/
https://mymonero.com/#/
