Litecoin owner Charlie Lee introduced the “appealing” Sparkswap task on Thursday. Previous Google designer Charlie Lee retweeted The Litecoin College of Crypto [UASF]’s blog post on the popular social networking web site, Twitter. The internet site, Litecoin Institution of Crypto, is committed to publishing materials based upon Litecoin from instructional perspective.
According to the tweet, “This task @sparkswap looks very appealing. You’ll have the ability to trade $LTC and also $BTC through atomic swaps via the Lightning Network. They do not have an item out for primary net yet however I like what I see thus far! #Litecoin #Bitcoin.”
The Medium blog belonging to Sparkswap sheds light on all the contribution that has actually been made by the group in the last couple of months. The upcoming project is called a mode of conducting cryptocurrency trading without sharing the individual’s data with a third party system. The appealing features of the project include its fast transaction speed as well as trading throughout numerous platforms. Currently, transaction is performed across Bitcoin as well as Litecoin blockchain platform.
Goal of the Sparkswap task
The main emphasis of the job is the removal of depend on worries linked with middlemans. The fundamental factor for this project is to focus on the removal of participation of 3rd parties to ensure that customers’ possessions can be secured from hacking circumstances. Additionally, the individuals will certainly no more need to bother with local regulators or bad actors existing in the marketplace.
From the blog post on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been introduced. The blog post states, “In an industry that, at times, seems to value hype and whitepapers over delivered, functioning software program, we have actually chosen the latter.”
The post has actually also discussed that the procedure remains in a “pre-alpha” condition. As of now, the team has achieved the trading of BTC/LTC pair on testnets of digital currencies. The post has additionally clarified the functioning of the task stating, “sparkswap makes this feasible by resolving professions peer-to-peer using 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 Penguincoinforum.