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 creator Charlie Lee introduced the “encouraging” Sparkswap job on Thursday. Previous Google engineer Charlie Lee retweeted The Litecoin School of Crypto [UASF]’s message on the popular social networking internet site, Twitter. The website, Litecoin Institution of Crypto, is dedicated to releasing materials based on Litecoin from educational viewpoint.

According to the tweet, “This job @sparkswap looks extremely appealing. You’ll have the ability to trade $LTC and $BTC via atomic swaps through the Lightning Network. They do not have a product out for major net yet however I like just what I see so far! #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 payment that has actually been made by the team in the last few months. The upcoming job is referred to as a setting of performing cryptocurrency trading without sharing the user’s data with a third party platform. The attractive functions of the job include its rapid deal rate and also trading throughout numerous platforms. Presently, transaction is performed across Bitcoin and Litecoin blockchain system.

Aim of the Sparkswap task

The primary focus of the job is the elimination of count on concerns related to intermediaries. The basic reason for this project is to focus on the elimination of participation of 3rd parties to make sure that individuals’ assets can be secured from hacking instances. In addition, the individuals will certainly not have to stress over neighborhood regulatory authorities or bad actors present out there.

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

From the message on Twitter, it’s clear that Sparkswap’s MainNet has not yet been launched. The post states, “In a sector that, at times, appears to worth hype and also whitepapers over delivered, working software, we have actually opted for the last.”

The blog post has also discussed that the protocol remains in a “pre-alpha” problem. Currently, the team has achieved the trading of BTC/LTC set on testnets of digital money. The message has actually also thrown light on the performance of the project specifying, “sparkswap makes this feasible 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 1Bigbitcointeam.

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