Lightning Network-based Boltz crypto exchange goes alpha

Posted 08 April, 2019

New cryptocurrency exchange service Boltz go alpha last week. The platform offers now exchange service for BTC-LTC via  Lightning Network and Submarine Swaps protocols.

"We are excited to announce the alpha release of Boltz, a trust minimized, account-free exchange built on top of the lightning network," the company's Twitter reads.

As the company representatives stated, the new platform is said to be positioned as a strong rival of Shapeshift. The latter in its turn released new rules for mandatory verification of the accounts after which faced heavy critics.

According to the notice on the platform's website, users via their accounts at such exchanges as Shapeshift, in fact, give anyone along with state authorities the access to their KYC data, which entails the capability both monitor crypto balances but seize the funds while trading.

"We built Boltz with a dream of a fairer financial world, with the primary goal to empower users with financial sovereignty. Therefore, Boltz does not and will never collect any data that could identify our users. " the company explained its policy on the website.

In the blog post, Boltz spokesperson stressed that the platform is also aimed at solving the issues connected with input liquidity which is believed to be a common problem for Lightning-nod operators.

It is worth mentioning that Boltz also applies Submarine Swaps that "helps bridge the two layers and provides an option for users to exchange coins in the most trust minimized way possible," according to the statement.

Speaking about swaps, the company also added:

"Boltz allows for swapping the inbound liquidity merchants need without requiring them to trust a third party or spend time growing the capacity organically. 

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08 April, 2019 17:40

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