Bitcoin and Litecoin were again for the second time combined for an atomic swap. The Exchange Union Exchange Startup announced an atomic transaction between Bitcoin and Litecoin using two LND nodes based on the obsolete LND branch on GitHub.
Exchange Union tweeted:
“We just did our
#Lightning BTC/LTC swap! Instant, trustless, decentralized – that’s how exchanges will work in future! We are also launching early stage testing of our XUD node with selected exchanges next month. Stay tuned! Wanna try the swap?”
Along with this, they added a link to their official blog which elaborates the swap between BTC and LTC.
Atomic swap allows effortless decentralized exchange between compatible networks. The approach is a solution for decentralizing exchanges and may create “families” of coins that grow together and allow different functionalities. Atomic swaps work as a form of smart contract where the exchange is instant and frictionless and does not rely on a third party such as an exchange.
The exchange occurred without enlistment on both block libraries, it is difficult to track the following.
The idea of nuclear exchanges was first portrayed in 2013 by Thier Nolan. This innovation enables clients to trade crypto-credits from various blockhouses without including outsiders. It is Atomic swaps that underlie Peer-to-Peer exchanging on decentralized trades. These swaps are done on a non-reliable premise.
The first main atomic exchange amongst Bitcoin and Litecoin was directed by the start-up Lightning Labs in November 2017.
At the time of writing, Bitcoin has a trading price of $7659.08 with a market cap of $130 billion while Litecoin has a market cap of $6.8 billion and the trading price of $120.08
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