Litecoin creator Charlie Lee annouces Sparkswap for Bitcoin [BTC]-Litecoin [LTC] trading

Home » News » Litecoin creator Charlie Lee annouces Sparkswap for Bitcoin [BTC]-Litecoin [LTC] trading
August 6, 2018 by
Litecoin creator Charlie Lee annouces Sparkswap for Bitcoin [BTC]-Litecoin [LTC] trading

Litecoin founder Charlie Lee announced the “encouraging” Sparkswap task on Thursday. Former Google engineer Charlie Lee retweeted The Litecoin College of Crypto [UASF]’s article on the preferred social networking site, Twitter. The web site, Litecoin Institution of Crypto, is devoted to publishing materials based on Litecoin from educational perspective.

Inning accordance with the tweet, “This job @sparkswap looks very promising. You’ll have the ability to trade $LTC and $BTC via atomic swaps with the Lightning Network. They do not have a product out for primary internet yet but I like exactly what I see up until now! #Litecoin #Bitcoin.”

See also: Charlie Lee reveals why he sold his Litecoin; says BTC is gold, XRP is gold 

The Medium blog site coming from Sparkswap sheds light on all the contribution that has actually been made by the group in the last few months. The upcoming task is described as a mode of carrying out cryptocurrency trading without sharing the customer’s data with a 3rd party platform. The attractive features of the job include its quick purchase speed as well as trading across different systems. Presently, transaction is conducted across Bitcoin as well as Litecoin blockchain system.

Aim of the Sparkswap project

The key focus of the task is the elimination of count on problems related to middlemans. The fundamental factor for this project is to concentrate on the removal of involvement of 3rd parties so that customers’ properties can be secured from hacking instances. Furthermore, the users will no more have to stress over local regulatory authorities or criminals present in the marketplace.

See also: Crypto phone HTC Exodus to support Litecoin [LTC], Charlie Lee confirms

From the article on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been released. The blog post states, “In an industry that, sometimes, seems to value buzz and also whitepapers over delivered, functioning software program, we’ve chosen the latter.”

The blog post has additionally discussed that the procedure remains in a “pre-alpha” condition. As of now, the group has actually achieved the trading of BTC/LTC set on testnets of electronic money. The article has additionally thrown light on the functioning of the task mentioning, “sparkswap makes this possible by resolving professions peer-to-peer using trustless, atomic cross-chain swaps over the Lightning Network. “

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