2019-4-6 21:29 |
The Lightning Network is growing stronger every day. In addition to seeing the number of nodes double in a few months, a new project has added another element of crypto infrastructure: an account-free, non-custodial cryptocurrency exchange.
Boltz has just announced the alpha launch of their exchange, making it easier to exchange on-chain coins with the Lightning Network. In an announcement published to Medium, developers said they wanted to solve the “glaring issues” of Bitcoin’s scaling system.
Instead of entrusting coins to the exchange, Boltz uses ‘Submarine Swaps’ to exchange coins from Lightning Channels to the blockchain. Submarine Swaps are Hash Time Locked Contracts that tie ownership of transaction data to whether or not an invoice on the Lightning network has been paid.
The Alpha release is focused on releasing Boltz tech to the Lightning community, and currently offers instant swaps between BTC and LTC. Later milestones on the roadmap will focus on increased functionality, an improved frontend, increased security measures, and further currency options for atomic swaps.
The Bitcoin Lighting network has already seen rapid expansion since its inception, as new nodes jump online every day. Though not flawless, it does provide some of the missing pieces to the Bitcoin puzzle like transaction speed and scalability. With the integration of atomic swap exchanges like Boltz, the Bitcoin protocol will only get stronger.
The author is invested in digital assets, including BTC, which is mentioned in this article.
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