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Boltz To Exchange BTC To LTC Without Registration

12:05 09/04/2019
New Exchange Supporting LN May Become Competitor To ShapeShif

Last week, developers launched privily a new crypto platform called Boltz. This is a non-custodial exchange with support for the Lightning Network protocol, which does not require registration of accounts to transfer funds, as follows from the blog.

 

According to ForkLog, the creators of Boltz are positioning themselves as competitors of the well-known exchange platform ShapeShift, which was nicknamed “the stock exchange without accounts” in the past. In September 2018, the management introduced mandatory user registration, although the ShapeShift team itself considered this innovation unpleasant.

 

The Boltz developers seek to ensure the “financial sovereignty” of users, so they refused to collect data with which the government or other individuals can identify customers or, moreover, confiscate their assets.

 

In addition, the new exchange supports Submarine Swaps technology, which allows to conduct transactions that do not require trust from the address in the Bitcoin or Litecoin blockchain to the Lightning Network, and vice versa. So far, only two cryptocurrencies can be exchanged and sent on the exchange — Litecoin and bitcoin.

 

At the moment, Boltz is working in alpha mode, and developers are waiting for feedback and suggestions for fixing bugs. The platform was first tested by Litecoin creator Charlie Lee. On Twitter, he noted the speed of the exchange and wrote that a transaction took only two and a half minutes for him, while the commission amounted to “a few pennies”.

 

However, users were incredulous about Lee's enthusiasm, considering it an advertisement for a new platform. As Francis Pouliot, the founder of the Canadian crypto company Bull Bitcoin, wrote, the transfer of LTC to BTC on this site will result in loss of funds for Litecoin owners.

 

Earlier, a record number of transactions was found in the Bitcoin block.

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