Litecoin to Introduce New Project – Sparkswap – To Enable Litecoin (LTC) and Bitcoin BTC Trading Via Atomic Swap

On 2 August, Charlie Lee – the creator of Litecoin (LTC), retweeted a tweet by the Litecoin School of Crypto regarding a forthcoming digital currency-related project tagged “Sparkswap.” The Litecoin School of Crypto is a site that publishes educational contents about Litecoin (LTC).

Sparkswap

The Sparkswap project has a lot of potentials and it looks promising. It will enable users to trade bitcoin BTC and Litecoin (LTC) through atomic swaps via the Lightning Network. In a blog post by the project, a member of the team talked about all the work they’ve put into the project over the past couple of months.

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The Aim of the Project

The post also defines the project – Sparkswap, as a means of trading digital currencies without the need to deposit or file your digital assets with a third platform. The aim of the project is to eliminate the trust concerns and need for intermediaries.

The trading can be executed across several blockchains and it only takes about a second to execute a transaction. This is the normal transaction time for a lot of readily established and centralized digital currency trading platforms. At the moment, only transactions across the blockchain of Litecoin (LTC) and Bitcoin (BTC) are available via the platform.

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The Mainnet of the blockchain project hasn’t launched yet. According to the blog post of Sparkswap, the team prefers to introduce a working, well-developed software to the ecosystem to creating whitepapers and hype for their project

Litecoin (LTC) Price Today – LTC / USD

Name Price24H (%)
Litecoin (LTC)
$57.96
1.13%

At the time of writing, Litecoin (LTC) is trading at $77 after a decrease of about 3 percent over the past twenty-four hours. The seventh largest digital currency in the world has a market cap of $4.41 billion and the trading volume of the coin over the past twenty-four hours is $271.67 million.


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