Litecoin founder Charlie Lee introduced the “encouraging” Sparkswap project on Thursday. Previous Google designer Charlie Lee retweeted The Litecoin School of Crypto [UASF]’s post on the prominent social networking web site, Twitter. The website, Litecoin College of Crypto, is devoted in the direction of publishing contents based on Litecoin from instructional viewpoint.
Inning accordance with the tweet, “This job @sparkswap looks extremely appealing. You’ll be able to trade $LTC and $BTC by means of atomic swaps via the Lightning Network. They don’t have a product out for major net yet however I like exactly what I see until now! #Litecoin #Bitcoin.”
The Tool blog belonging to Sparkswap sheds light on all the payment that has been made by the group in the last couple of months. The upcoming task is described as a setting of conducting cryptocurrency trading without sharing the individual’s information with a 3rd party platform. The appealing functions of the task include its fast purchase speed and also trading throughout different platforms. Currently, purchase is carried out across Bitcoin as well as Litecoin blockchain platform.
Objective of the Sparkswap task
The main focus of the task is the removal of trust fund problems linked with middlemans. The fundamental factor for this job is to concentrate on the elimination of involvement of third parties to make sure that users’ assets can be protected from hacking circumstances. In addition, the customers will certainly not have to stress over regional regulatory authorities or criminals existing in the marketplace.
From the message on Twitter, it’s clear that Sparkswap’s MainNet has not yet been released. The post states, “In a sector that, sometimes, seems to value buzz and also whitepapers over supplied, working software program, we have actually gone with the last.”
The post has actually additionally pointed out that the method is in a “pre-alpha” condition. As of now, the group has actually achieved the trading of BTC/LTC set on testnets of electronic currencies. The message has likewise thrown light on the performance of the job specifying, “sparkswap makes this feasible by resolving trades peer-to-peer utilizing 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 Cryptoheed.