The cryptocurrency industry keeps advancing day by day with new technologies coming up. The latest concept of Atomic Swaps has been garnering momentum in recent days. The technology sanctions peer-to-peer transactions across different blockchains. Ideally, the concept works between Bitcoin and its correlative Litecoin. However, Litecoin’s founder Charlie Lee thinks there is still a usability problem affecting its advancement.

Moreover, during a recent<a href="https://www.youtube.com/watch?v=pAfCMV_QaFo"> interview</a>, Lee mainly remained mindful of Atomic Swaps; its gradual growth which leads to the creation of tools and wallets in a niche industry. However, Atomic Swaps work using on-chain transactions; hence they are not prompt and that disheartens people from using it.

But according to Charlie Lee, Atomic Swaps could be the game-changer. He asserts that:
<blockquote>“I think a lot of people are kind of excitedly waiting for more development on the lightning side of things. With lightning atomic swaps, it would be instantaneous and I think there’ll be a lot more usage”</blockquote>
In addition, Mr.Lee says that regardless of the originality of the idea, it needs a simple user experience and UI. He notes that its usability will need Bitcoin and Litecoin Lightning network working and initiating swaps between themselves.
<h2>Bitcoin and Monero Swaps Possible</h2>
Furthermore, there have been rumors circulating of atomic swaps taking place between<a href="https://www.cryptoknowmics.com/crypto/bitcoin-btc-way-cheaper-and-better-than-bch-tone-vays/"> Bitcoin</a> and Monero. In an i<a href="https://www.youtube.com/watch?v=pa0RlyH92Ns">nterview</a> with Monero Talk, Joel Gugger who is a developer on cross-chain atomic swaps; emphasizes that Bitcoin and Monero swaps are possible. However, Gugger explains all this without knowledge proofs and meeting the conditions of other blockchains. Gugger adds:
<blockquote> “Also, we need to, during the setup phase of the swap between 2 participants, we use a trick to not requiring time locks or other stuff in the Monero blockchain but we need to ensure that the participant did the initializing phase correctly. So, we need zero-knowledge proof that makes the protocol completely trustless.”</blockquote>

Charlie Lee Asserts Lightning Atomic Swap Might be Turning Point

The cryptocurrency industry keeps advancing day by day with new technologies coming up. The latest concept of Atomic Swaps has been garnering.... %

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Charlie Lee Asserts Lightning Atomic Swap Might be Turning Point

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