Sparkswap Desktop Lets Users Deposit Bitcoin Directly Into Their Lightning Wallets
Sparkswap’s existing stack had its beta release in April 2019. Another first for the young company, the beta launch released the world’s first user-ready atomic swap exchange to the Bitcoin public. This beta, however, was limited to bitcoin and litecoin trades, while this most recent news opens the exchange to fiat liquidity as well.
For now, Sparkswap Desktop will cap buying amounts at 0.04 BTC to work within the channel limits reinforced by many of the wallets and tools the application integrates with. Griffith said that Sparkswap’s team has it in mind to expand this limit “over time if there is demand for larger transactions.”
Sparkswap Desktop is available for Mac, Windows and Linux. Griffith explained that it’s also compatible with any “existing LND instance.”
“We’ve focused in particular on Zap Desktop and the Lightning App since they support Neutrino, which makes them easy to get started with, but it works with any instance of LND at or above version 0.7,” he said. “We’d like to support other implementations and platforms in the future, and we’re looking at ways we can make the integration with existing node providers even easier.”
Founded in 2017, Sparkswap quietly wrangled $3.5 million in funding from Initialized Capital, Pantera Capital and Foundation Capital, among others, in 2018. This latest release, Griffith told us, is another notch in their belt as they work toward a more decentralized financial landscape.
“We’re trying to build applications that we think are important and valuable to the Bitcoin community and take advantage of the unique properties that Lightning offers. We don’t have specific products or features that we’re ready to announce yet, but I think you’ll continue to see us pushing toward a noncustodial financial system.”
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