Zigzag.io launches test swaps between cryptocurrencies via the Lightning Network
A new system of exchange of cryptocurrency, called Zigzag.io is an application to exchange bitcoins to other scriptactive, including BCH, DASH and ETH by using the Lightning Network. Currently, for testing operations with digital currencies available as a beta version of the application running in the core network in early September.
Trade in Lightning Network
For several years cryptocurrency enthusiasts are always looking for new solutions for the exchange of cryptocurrencies. The platform, launched startup Zigzag.io in early September, is a system of digital currency that uses exchange network Lightning Network (LN). The project is open source allows users to exchange coins, sending payments to the exchange through the purse LN, similar to how Shapeshift works. For the implementation of the process platform Zigzag there are only two of the crypto address, personal details for KYC are required.
To use the exchange Zigzag, you need to send coins compatible with LN wallets — for instance, Zap, Eclair, Lightning, or Htlc.me. At the moment the maximum amount available to exchange funds in one transaction is $ 100. Additionally, since the app is in beta version, in case of any unforeseen circumstances, the team created a system of refund. In the future, the team plans to develop a custodial service storage in the form of a purse, which people will be able to make BTC, BCH, DASH, ETH and LTC by trading without the necessity of first obtaining a special knowledge of LN.
“We commend the work of community Lightning Network. However, there are still people for whom Lightning is a problem. We believe that in order to meet Lightning more people, there must be a way for you to try, without having any special technical knowledge,” say the developers.
Another service based on Lightning
According to the developers, after the first week of the launch of the software product they received from the community a lot of good feedback and requests for new features. After that, the Zigzag programmers have added to the application function to the reverse exchange. Two more not yet implemented request include the addition of new retail assets and increase exchange limit to $100.
According to the team, in the future they do plan to add other currencies, but it is not a priority. To increase the limit to $100 will be more difficult because of the lack of maturity of the Lightning Network.
“It’s a tricky question, because Lightning Network is still functioning in beta mode, we all are still in beta mode, (…) so as long as we maintain low limits,” says the team at zig zag.
Recently appeared quite a lot of new platforms, testing different models of trade. Moreover, many cryptocurrency enthusiasts are looking for trading platforms that do not use the KYC. In particular, there is another exchange-based Lightning Network, which is called Sparkswap and provides traders with the opportunity to exchange cryptocurrencies with the help of technology LN and atomic milakovich swaps. Zigzag and Sparkswap announced the launch of their platforms almost simultaneously.