Sparkswap, World’s First Lightning Atomic Swap Exchange, Now in Beta

Bitcoin’s first decentralized exchange to make use of the Lightning Network’s Atomic Swaps is now in beta.Sparkswap, an exchange with backing from Pantera Capital (which announced its ambitious mission to become the most decentralized bitcoin exchange on the market in August 2018), has now opened its beta to users. Leveraging the Lightning Network, the exchange is non-custodial and trading is decentralized. Users will be able to execute buy and sell orders between each other directly and, thanks to atomic swapping, they’ll also be able to trade coins across blockchains.“At no point can either Sparkswap or your counterparty deprive you of your assets — the trades either complete or they do not,” Sparkswap Founder Trey Griffith told Bitcoin Magazine. “We are also a venue for trading, not an over-the-counter service like ShapeShift, so users are trading with each other.”For this mainnet launch, Sparkswap will only feature a bitcoin and litecoin trading pair, but it could feasibly support other atomic swap-friendly cryptocurrencies like decred, vertcoin or komodo. Griffith added that the exchange also has “plans to accommodate many other cryptocurrencies, including beyond Bitcoin Script-based projects.” The technology, Griffith said, can accommodate other payment channel networks that aren’t necessarily compatible with the Lightning Network, so long as certain criteria are met.To access the exchange, users need to download Spark...