Litecoin founder Charlie Lee introduced the “appealing” Sparkswap task on Thursday. Previous Google engineer Charlie Lee retweeted The Litecoin College of Crypto [UASF]’s message on the preferred social networking website, Twitter. The web site, Litecoin Institution of Crypto, is dedicated to releasing contents based upon Litecoin from academic perspective.
Inning accordance with the tweet, “This project @sparkswap looks really encouraging. You’ll be able to trade $LTC and also $BTC using atomic swaps through the Lightning Network. They do not have an item out for primary internet yet but I like exactly what I see thus far! #Litecoin #Bitcoin.”
The Medium blog site coming from Sparkswap clarifies all the contribution that has actually been made by the team in the last few months. The upcoming task is described as a setting of conducting cryptocurrency trading without sharing the individual’s information with a 3rd party system. The eye-catching functions of the project include its fast transaction speed as well as trading throughout various platforms. Presently, purchase is performed throughout Bitcoin and Litecoin blockchain platform.
Objective of the Sparkswap task
The primary emphasis of the job is the elimination of trust fund issues related to middlemans. The essential reason for this project is to focus on the removal of involvement of 3rd parties so that users’ properties can be protected from hacking circumstances. Moreover, the individuals will certainly no longer have to bother with neighborhood regulatory authorities or bad actors present out there.
From the post on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been introduced. The post states, “In a market that, at times, appears to worth hype and also whitepapers over delivered, functioning software program, we’ve selected the last.”
The blog post has likewise mentioned that the procedure remains in a “pre-alpha” problem. As of now, the team has achieved the trading of BTC/LTC set on testnets of digital money. The post has actually likewise clarified the functioning of the project mentioning, “sparkswap makes this possible by resolving trades peer-to-peer making use of trustless, atomic cross-chain swaps over the Lightning Network. “