Litecoin creator Charlie Lee announced the “appealing” Sparkswap job on Thursday. Former Google engineer Charlie Lee retweeted The Litecoin Institution of Crypto [UASF]’s blog post on the popular social networking web site, Twitter. The web site, Litecoin School of Crypto, is dedicated to publishing contents based on Litecoin from instructional perspective.
Inning accordance with the tweet, “This job @sparkswap looks really promising. You’ll have the ability to trade $LTC and $BTC using atomic swaps with the Lightning Network. They don’t have a product out for major net yet but I like just what I see until now! #Litecoin #Bitcoin.”
The Tool blog belonging to Sparkswap clarifies all the contribution that has been made by the team in the last couple of months. The upcoming job is described as a mode of performing cryptocurrency trading without sharing the user’s data with a third party platform. The attractive features of the project include its fast purchase speed and trading across different platforms. Presently, purchase is carried out throughout Bitcoin as well as Litecoin blockchain system.
Aim of the Sparkswap task
The primary emphasis of the project is the removal of depend on worries linked with middlemans. The essential factor for this project is to concentrate on the elimination of participation of 3rd parties so that customers’ possessions can be secured from hacking instances. In addition, the users will not have to bother with regional regulatory authorities or bad actors existing on the market.
From the article on Twitter, it’s clear that Sparkswap’s MainNet has not yet been introduced. The post states, “In a sector that, at times, seems to worth hype and also whitepapers over delivered, working software, we have actually opted for the latter.”
The article has actually additionally discussed that the procedure is in a “pre-alpha” problem. As of now, the team has actually achieved the trading of BTC/LTC set on testnets of digital currencies. The post has actually likewise clarified the performance of the job specifying, “sparkswap makes this feasible 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 Cryptodailydose.