Litecoin owner Charlie Lee revealed the “promising” Sparkswap job on Thursday. Former Google designer Charlie Lee retweeted The Litecoin Institution of Crypto [UASF]’s message on the prominent social networking website, Twitter. The website, Litecoin School of Crypto, is devoted to releasing contents based upon Litecoin from academic perspective.
According to the tweet, “This task @sparkswap looks very encouraging. You’ll have the ability to trade $LTC and also $BTC via atomic swaps with the Lightning Network. They do not have a product out for major web yet however I like what I see thus far! #Litecoin #Bitcoin.”
The Medium blog site coming from Sparkswap clarifies all the payment that has been made by the group in the last few months. The upcoming project is described as a setting of conducting cryptocurrency trading without sharing the individual’s data with a third party system. The eye-catching features of the task include its rapid transaction rate and also trading throughout different platforms. Currently, transaction is performed throughout Bitcoin and also Litecoin blockchain platform.
Objective of the Sparkswap job
The key focus of the task is the elimination of count on concerns related to middlemans. The fundamental factor for this project is to concentrate on the elimination of involvement of 3rd parties so that customers’ properties can be shielded from hacking circumstances. Moreover, the individuals will certainly no more have to fret about regional regulators or criminals existing out there.
From the article on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been launched. The article states, “In an industry that, at times, seems to value hype and whitepapers over provided, working software application, we have actually gone with the latter.”
The article has actually also discussed that the protocol remains in a “pre-alpha” condition. As of now, the team has actually completed the trading of BTC/LTC pair on testnets of electronic currencies. The blog post has likewise thrown light on the performance of the task specifying, “sparkswap makes this possible by resolving trades peer-to-peer utilizing trustless, atomic cross-chain swaps over the Lightning Network. “