Litecoin (LTC) The Lightning Network Could Get ‘One-Click’ Atomic Swaps Soon 7551

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Litecoin is a popular peer-to-peer cryptocurrency and is one of the top market share holders of the cryptocurrency market. It’s one of the most well-known cryptocurrencies, and is technically, nearly identical to Bitcoin.

In order to take Litecoin forward in terms of functionality, The Litecoin Foundation has announced a partnership with blockchain developers X9. One of the aims of this partnership will be the introduction of ‘one-click’ atomic swap capability to the Lightning Network. X9 are leading developers in the blockchain and decentralization domain.

The atomic swap is going to be just one goal of this partnership, with Litecoin Foundation hoping to improve the maintenance and debugging of LTC and developing new technologies for its Lightning Network.

X9 do not specialize in a particular blockchain, and are instead ‘blockchain-agnostic’, meaning they can work on different blockchain protocols.

Of course, the real headline-grabbing portion of this announcement is the possibility of ‘one-click’ atomic swaps coming to the Lightning Network. If you’re not familiar with this game-changing technology, let us explain.

‘One-click’ Atomic Swaps

Put simply, atomic swaps use smart contracts to facilitate the exchange of different cryptocurrencies/tokens between two parties without the risk of one party pulling out of the trade.

There is no need for ‘trust’ between the two parties, and atomic swaps happen without the interference/need of a third party or escrow manager. Thanks to this technology, there is no risk of losing your cryptocurrency as there will be no transfer of tokens before the complete ‘swap’ is carried out.

The term ‘atomic’ is used here because the trade will either happen, or it won’t. There is no middle ground involved here, as the tokens will be swapped as a whole.

Anyone who has bought or sold Bitcoin will be well-aware of the trading fees that go along with it. With mass adoption of the atomic swap across different cryptocurrencies and blockchains, those fees could be a thing of the past.

Atomic swaps enable cross-chain cryptocurrency trading (atomically of course) without any third-party and there are trading fees involved. An important point to note regarding atomic swaps is that as of now, they’re not very user-friendly. You have to be really technically proficient to carry these out. As such, atomic swaps will be offered as a service by businesses that implement this technology. Thus, it’s fair to assume that there will be a small fee associated with these, but that should be considerably lower than the trading fees we’re used to.

Cryptocurrency Needs Atomic Swaps

Atomic swaps will completely change how cryptocurrency trading is done, and for the better. The technology can be utilized by anyone, no matter the size of the trade.

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Let’s take an example of a cross-chain crypto trade. Assume that you have 500 BTC but would like to trade it for 25,000 LTC. Traditionally, you’d have to either use the services of a centralized exchange, which would mean paying trading fees. Or, you could find someone with 25,000 LTC and ask them to trade. The only thing is that you can’t trust someone to complete this transaction. With atomic swaps, this fear is taken care of as your amount will be swapped as a ‘whole’, and not in fractional amounts.

This would be greatly beneficial to cryptocurrency technology as a whole, it is still plagued by fears of hacks and deception, thanks to some high-profile hacks at major exchanges.

Atomic Swap Limitations

Even though atomic swaps have already been implemented (Decred and Litecoin in 2017), there are some limitations for on-chain atomic swaps:

  • Exchanged currencies must have the same hash algorithm
  • Exchanged currencies should support time-lock contracts

Of course, these limitations pose a threat to mass adoption of atomic swaps. However, cryptocurrency technologists are at work on getting around them. No major Litecoin wallet supports atomic swaps yet. Hopefully, in 2019, this will change.

Solutions like off-chain atomic swaps by Bitcoin Lightning network are being developed with the purpose of overcoming challenges faced by on-chain atomic swaps.

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ICON (ICX) – Whatever Happened to The Korean Ethereum? 6734

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Bitcoiner since $59BittBurger, gives us his take on the current status of the South Korean ICON project. This post is primarily about a solid uptick in community involvement, decentralized marketing, and the token side of things. For the last year and a half we had a pretty uninvolved community, while the company continued to work under the hood to build something huge.

A lot is happening right now. I feel like nobody knows about it.

It’s Happening

A lot is happening right now. I feel like nobody knows about it. It just started. Most of it. So your patience will be appreciated. But I’ve never seen so much proactivity in this project on the token-side of things before.

new larger office

  • AMBASSADOR PROGRAM: Over the last handful of weeks, the Ambassador program has begun. This program incentivizes the creation of content to promote ICON across social media and the internet. Several Ambassadors have already put out multiple articles that are getting ranked across Google and Medium, bringing attention to the project.

  • ICONSENSUS P-REPS: The number of ICONSENSUS P-REP candidates has surpassed 40 (there will only be 22 voted in) and ICON is beginning a strong marketing push to attract more teams this month, with the goal of reaching 100. Check out the candidate interviews here.

  • EXPOSURE: Some of these P-REP teams which including RHIZOMEICONation, and Ubik have already begun cranking out content, started YouTube video channels, and scrambling to get ICON on podcasts.

  • PODCASTS: Speaking of Podcasts, several investors have begun reaching out to their contacts at several different podcast and YouTube influencers. The goal is to get ICON team members on for an interview, to talk about the project and get the ICON name in front of tens of thousands of faces (or ears). Ricky and others at ICON have been excited to make themselves available for this, which makes all of us extremely grateful. I will be working to get someone on my friend Chico Crypto‘s YouTube channel soon, and a handful of podcasts are already underway for scheduling.

  • EXCHANGES: This past week, a group formed within the Telegram channel to focus entirely on reaching out to as many new exchanges as possible, and getting ICON listed on them. A Trello has been set up, and we’ve already begun making headway on this incredibly important goal.

  • BINANCE USA LISTING: With the advent of Binance USA, both the ICON team and everyone involved are aggressively pursuing assurance that ICX will be listed on the new exchange for US investors.

  • COINBASE LISTING: The same is being done for ICX being in the next couple rounds of newly added coins on Coinbase. I’ve spoken to team members at ICON who have assured me they’ve been following up on this regularly. Please download their app > Sign in > Click “View all Assets” > Then scroll down and click “Follow” on ICON. This is an important metric for Coinbase to decide what gets added next.

  • HIRING PR COMPANY: Two days ago I managed to connect Ricky Dodds (ICONS Head of Institutional Markets in their San Francisco office) to a close friend of mine who runs the PR company which took Genesis mining from nothing to a $2 Billion valuation, and got them on that 60 minutes episode a few weeks ago about Bitcoin. The mining segment in Iceland was thanks to him. Intro email was sent and the two of them have been connected to see if they’re a good fit.

  • HIRING PR COMPANY: Today, I connected Ricky to another company who runs a significantly larger Crypto-focused PR and marketing company. These guys were responsible for some of the biggest successes in Crypto, including Ethereum, NEO, Maidsafe, Qtum, Bancor, Lisk, and Augur. They also managed scaling campaigns for DASH, Ripple, Bittrex, and Kraken. They were excited as they personally know 4 of the 8 advisors listed on the ICON website, and they have an office in Seoul, South Korea in addition to Santa Monica, NYC, Las Vegas, Toronto, and San Francisco. To say I am excited to see the emails flying around today between Ricky and their team would be an understatement.

  • STAKING! 15% Staking is coming in 43 days. The ramifications of this can not be overstated. Aside from the completely speculative “claim” from some that their whale groups will stop suppressing the price at that time (which would be great, if it’s true), I expect nearly everyone to be staking their coins, completely drying up the order book and causing massive upward price pressure come September.

  • INCENTIVE PROGRAMS: I was happy to hear from a team member that several very specific plans are being put in place, after observing countless incentive programs by other projects that have resulted in price gains. The ICON team has realized the importance of creating incentive, interest, anticipation, and excitement for this token, and they’re taking steps to make it a reality for ICX.

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My point in writing this: A LOT is coming in the next 8 to 12 weeks. All of this is centered around recovering and catapulting the price as high as it can possibly go. ICON is seeking out the all-stars in this industry with incredibly resumes, and asking the experts for direction and input.

All of the marketing and promotion has just barely begun. Everything is at ground zero. But its finally happening. All the things we’ve been hoping for, for a year and a half.

How FUSION’s (FSN) Blockchain is Taking Over the 300 Trillion Dollar Financial Industry 3645

Blockchain technology may have an impact across numerous industries but it is poised to change the way we think about Finance in the most profound way.

The incumbent capital finance system is structured around large institutions and regulatory bodies that serve as the trust layer to ensure the security and fluidity of financial systems. But this is set to change, with blockchain technology achieving inherent trust where previously a rent-seeking intermediary was an essential and unavoidable cog in the system.

The opportunities that emerge from the Digital Economy are significant, and Fusion is going to be at the centre of this transformation. The Fusion protocol provides the infrastructure for the financial applications of the future that many businesses and institutions are looking to build.

FUSION (FSN) has three key features that elevate it above other smart contract platforms targeting blockchain finance.

  1.     A feature-rich ecosystem for modeling time-based transactions relevant to many industries, starting with debt instruments, entertainment licensing, asset rentals and more.
  2.     A fully realized interoperability and distributed custody solution that connects different on-chain and off-chain ecosystems and serves as the foundation for decentralized exchange.
  3.     A team with deep traditional finance and technology experience focused on solving real-world use-cases in a flexible and adaptive way.

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