Litecoin creator Charlie Lee revealed the “appealing” Sparkswap job on Thursday. Former Google designer Charlie Lee retweeted The Litecoin School of Crypto [UASF]’s message on the popular social networking internet site, Twitter. The internet site, Litecoin College of Crypto, is devoted to publishing contents based upon Litecoin from instructional point of view.
According to the tweet, “This job @sparkswap looks extremely appealing. You’ll be able to trade $LTC and also $BTC using atomic swaps with the Lightning Network. They do not have a product out for primary web yet however I like just what I see until now! #Litecoin #Bitcoin.”
The Medium blog site belonging to Sparkswap sheds light on all the payment that has actually been made by the group in the last couple of months. The upcoming task is referred to as a setting of carrying out cryptocurrency trading without sharing the customer’s data with a third party platform. The eye-catching attributes of the project include its quick purchase speed and also trading across numerous systems. Currently, transaction is performed throughout Bitcoin as well as Litecoin blockchain platform.
Goal of the Sparkswap task
The main focus of the task is the removal of trust problems related to intermediaries. The essential factor for this job is to concentrate on the elimination of participation of third parties so that users’ assets can be secured from hacking circumstances. Furthermore, the individuals will certainly no longer need to fret about neighborhood regulators or bad actors present in the market.
From the blog post on Twitter, it’s clear that Sparkswap’s MainNet has actually not yet been released. The post states, “In an industry that, at times, appears to worth buzz as well as whitepapers over provided, working software program, we’ve chosen the latter.”
The article has actually additionally mentioned that the method is in a “pre-alpha” problem. Already, the group has actually accomplished the trading of BTC/LTC set on testnets of electronic money. The blog post has actually additionally clarified the functioning of the project stating, “sparkswap makes this feasible by resolving professions peer-to-peer utilizing trustless, atomic cross-chain swaps over the Lightning Network. “