Litecoin owner Charlie Lee announced the “appealing” Sparkswap project on Thursday. Previous Google engineer Charlie Lee retweeted The Litecoin College of Crypto [UASF]’s post on the prominent social networking internet site, Twitter. The website, Litecoin School of Crypto, is committed to publishing contents based on Litecoin from academic point of view.
Inning accordance with the tweet, “This project @sparkswap looks very promising. You’ll have the ability to trade $LTC as well as $BTC by means of atomic swaps through the Lightning Network. They don’t have an item out for main net yet but I like what I see thus far! #Litecoin #Bitcoin.”
The Medium blog site coming from Sparkswap sheds light on all the payment that has been made by the team in the last couple of months. The upcoming project is called a setting of performing cryptocurrency trading without sharing the user’s information with a third party platform. The eye-catching features of the task include its rapid transaction speed and trading across different systems. Currently, deal is conducted across Bitcoin and Litecoin blockchain platform.
Objective of the Sparkswap task
The main focus of the project is the elimination of count on issues related to middlemans. The fundamental factor for this job is to focus on the elimination of involvement of third parties so that customers’ possessions can be safeguarded from hacking instances. Moreover, the customers will certainly no more have to bother with local regulatory authorities or bad actors existing on the market.
From the blog post on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been introduced. The post states, “In an industry that, sometimes, seems to value buzz and whitepapers over supplied, functioning software application, we have actually chosen the last.”
The post has actually also mentioned that the protocol is in a “pre-alpha” condition. Already, the team has accomplished the trading of BTC/LTC set on testnets of digital money. The message has additionally clarified the functioning of the task stating, “sparkswap makes this possible by settling professions peer-to-peer making use of trustless, atomic cross-chain swaps over the Lightning Network. “
A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website Perfect Bitcoins.