The gateway will enable Waves users to deposit, store, trade and withdraw Monero from the Waves blockchain ecosystem.
A Monero (XMR) gateway has now been added to the Waves Client, allowing anyone to use the popular privacy coin within the Waves network.
Monero is one of the foremost cryptocurrencies to offer anonymous transactions. It uses ring signatures to obscure sender and recipient, and its success has seen it rise to a current market cap of $3 billion — comparable with DASH, the other leading privacy coin.
XMR can now be deposited to a dedicated Waves gateway, where it is held on a secure server and used to back corresponding Monero tokens on the Waves blockchain at a 1:1 ratio. These Monero tokens can be stored in a hot or cold Waves wallet, sent to other users, or traded on the built-in DEX against bitcoin, WAVES or any other token in the Waves ecosystem.
When you have finished trading and want to hold your XMR in an external wallet, simply withdraw your tokens via the gateway. To download and explore the Waves wallet, visit https://beta.wavesplatform.com.