Litecoin founder Charlie Lee announced the “encouraging” Sparkswap job on Thursday. Previous Google designer Charlie Lee retweeted The Litecoin College of Crypto [UASF]’s blog post on the prominent social networking website, Twitter. The site, Litecoin Institution of Crypto, is devoted to releasing contents based on Litecoin from educational viewpoint.
According to the tweet, “This job @sparkswap looks really encouraging. You’ll have the ability to trade $LTC and $BTC using atomic swaps via the Lightning Network. They do not have an item out for primary internet yet however I like just what I see thus far! #Litecoin #Bitcoin.”
The Medium blog site coming from Sparkswap sheds light on all the payment that has been made by the team in the last couple of months. The upcoming task is called a mode of conducting cryptocurrency trading without sharing the customer’s information with a third party system. The eye-catching features of the task include its quick purchase rate as well as trading throughout different platforms. Currently, transaction is conducted across Bitcoin and also Litecoin blockchain system.
Goal of the Sparkswap job
The main focus of the task is the elimination of trust worries related to middlemans. The basic factor for this project is to focus on the elimination of participation of third parties to make sure that individuals’ assets can be shielded from hacking instances. Furthermore, the individuals will not need to fret about regional regulatory authorities or bad actors present on the market.
From the article on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been launched. The article states, “In a market that, sometimes, seems to value buzz as well as whitepapers over delivered, functioning software program, we’ve opted for the last.”
The post has additionally mentioned that the procedure is in a “pre-alpha” condition. Already, the group has actually achieved the trading of BTC/LTC set on testnets of digital money. The blog post has actually also thrown light on the functioning of the task 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 Abstractblockchain.