Instant Litecoin (LTC) And Bitcoin (BTC) Barter Now Happening With Atomic Swaps On Lightning
The need for instant cross chain transaction on Lightening as long been a desire in the world of Cryptocurrency. Sometimes ago, there was a productive swap of Cryptocurrency with notable segwit-enabled chains and later was the news that lightening Lab successfully “tested the first Lightning cross-chain atomic swap between the Bitcoin and Litecoin testnets!” in November 2017.
Since the November atomic swap, there has been quite numerous attempts to reproduce such, and now, yesterday came the broadcast that Bitcoin (BTC) and Litecoin (LTC) instant atomic swap has been reproduced once again.
Admittedly, it’s an old LND branch and required quite a bit of hacking and definitely will be done differently in production, but it’s just beautiful to see the BTC/LTC swap happening instantly.
The swap is executed directly between two LND nodes, preserving privacy (you won’t find a trace of the swap on-chain) and is completely trustless, which is the point of atomic swaps!” The statement reads.
In the statement was placed a demo video by Offer Markovich, a LND contributor, displaying an instant exchange of the two cryptocurrencies.
In line with the development, Exchange Union, which according to the statement was said to have executed the swap, aired that it will not end its effort at this point but move further to focus on getting the swap production ready and merged it into LND master at some point.
“Apart from that, we plan to launch some (very) early stage testing of our XUD node with selected exchanges next month. Pieces are starting to fall into place with XUD,” Exchange Union added.
Tagged as a decentralized network, which links digital asset exchanges around the world, Exchange Union is an open source project that designs the XU node software.
The network is designed to provide instant, seamless, secure and trustless trades of various digital assets while exchanging them.
Exchange Union improves transactions and digital asset trading experience by connecting different exchanges together.
While the team behind the company aims at providing solutions to crypto exchange’s most prominent issues, the latest achievement can be regarded as an outstanding milestone.