Litecoin founder Charlie Lee announced the “appealing” Sparkswap job on Thursday. Previous Google engineer Charlie Lee retweeted The Litecoin College of Crypto [UASF]’s blog post on the popular social networking internet site, Twitter. The internet site, Litecoin Institution of Crypto, is dedicated in the direction of releasing materials based on Litecoin from instructional perspective.
Inning accordance with the tweet, “This task @sparkswap looks very encouraging. You’ll be able to trade $LTC and $BTC via atomic swaps through the Lightning Network. They don’t have an item out for primary net yet but I like exactly what I see thus far! #Litecoin #Bitcoin.”
The Medium blog belonging to Sparkswap sheds light on all the contribution that has 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 third party platform. The eye-catching functions of the job include its rapid deal rate and also trading throughout numerous systems. Currently, purchase is performed throughout Bitcoin as well as Litecoin blockchain platform.
Aim of the Sparkswap task
The primary focus of the task is the removal of depend on worries linked with middlemans. The fundamental reason for this task is to concentrate on the removal of participation of 3rd parties so that individuals’ possessions can be secured from hacking instances. Additionally, the users will not have to bother with regional regulatory authorities or criminals existing out there.
From the post on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been introduced. The blog post states, “In a market that, at times, appears to value hype and also whitepapers over supplied, functioning software application, we have actually gone with the last.”
The blog post has also discussed that the method is in a “pre-alpha” condition. As of now, the group has achieved the trading of BTC/LTC set on testnets of digital currencies. The post has also clarified the performance of the job mentioning, “sparkswap makes this possible by clearing up professions peer-to-peer using trustless, atomic cross-chain swaps over the Lightning Network. “
A mechanical engineer turned journalist, Raja 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 Custom Coins.