Litecoin founder Charlie Lee revealed the “appealing” Sparkswap task on Thursday. Previous Google engineer Charlie Lee retweeted The Litecoin Institution of Crypto [UASF]’s post on the popular social networking site, Twitter. The site, Litecoin College of Crypto, is devoted to publishing materials based on Litecoin from instructional viewpoint.
Inning accordance with the tweet, “This job @sparkswap looks very encouraging. You’ll have the ability to trade $LTC as well as $BTC using atomic swaps via the Lightning Network. They do not have an item out for main net yet but I like just what I see thus far! #Litecoin #Bitcoin.”
The Tool blog coming from Sparkswap sheds light on all the payment that has actually been made by the group in the last couple of months. The upcoming task is described as a mode of conducting cryptocurrency trading without sharing the user’s information with a 3rd party platform. The appealing functions of the project include its quick transaction rate and trading across numerous platforms. Currently, purchase is carried out throughout Bitcoin as well as Litecoin blockchain platform.
Objective of the Sparkswap project
The key emphasis of the task is the elimination of depend on problems related to intermediaries. The fundamental factor for this project is to focus on the elimination of involvement of third parties so that customers’ properties can be shielded from hacking instances. In addition, the customers will no more need to bother with neighborhood regulators or bad actors present in the market.
From the blog post on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been launched. The article states, “In a market that, sometimes, seems to worth buzz and whitepapers over provided, functioning software, we’ve chosen the latter.”
The post has likewise stated that the method is in a “pre-alpha” condition. Already, the group has achieved the trading of BTC/LTC set on testnets of digital currencies. The blog post has also clarified the performance of the task mentioning, “sparkswap makes this feasible by working out professions peer-to-peer using 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 Cryptobulletin.