Litecoin founder Charlie Lee revealed the “encouraging” Sparkswap task on Thursday. Previous Google engineer Charlie Lee retweeted The Litecoin School of Crypto [UASF]’s article on the popular social networking web site, Twitter. The website, Litecoin School of Crypto, is devoted to releasing contents based on Litecoin from educational perspective.
According to the tweet, “This job @sparkswap looks very encouraging. You’ll have the ability to trade $LTC as well as $BTC through atomic swaps with the Lightning Network. They don’t have a product out for major net yet however I like what I see so far! #Litecoin #Bitcoin.”
The Medium blog site belonging to Sparkswap clarifies all the contribution that has actually been made by the team in the last few months. The upcoming task is called a setting of carrying out cryptocurrency trading without sharing the customer’s information with a 3rd party platform. The attractive features of the project include its fast transaction rate as well as trading throughout various platforms. Currently, deal is performed across Bitcoin as well as Litecoin blockchain platform.
Aim of the Sparkswap project
The key focus of the task is the removal of depend on worries related to middlemans. The fundamental factor for this job is to concentrate on the removal of participation of third parties to make sure that customers’ assets can be safeguarded from hacking instances. Furthermore, the individuals will certainly not need to stress over local regulators or criminals present out there.
From the article on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been introduced. The post states, “In an industry that, at times, appears to worth hype and whitepapers over delivered, working software program, we have actually chosen the last.”
The post has actually also mentioned that the method is in a “pre-alpha” problem. As of now, the team has actually accomplished the trading of BTC/LTC set on testnets of electronic currencies. The message has also clarified the performance of the project mentioning, “sparkswap makes this possible by settling trades 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 Stellar Cobelt.