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).
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.
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.
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
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.