Boltz is an account-free and instant cryptocurrency exchange that is built on top of lightning network. Compatible with both Bitcoin and Litecoin, Boltz makes use of two layers and lets users exchange coins in the most trust minimized way possible.
How does Boltz works?
It is quite complex but basically it makes use of swaps to change coins from lightning channel to the chain and vice versa. Boltz calls this swap submarine swap which is HTLC (Hashed Time Locked Contract) that ties the ownership of a UTXO to whether an invoice on the lightning network got paid. You can find more details about it here where HTLC is explained in much more depth.
Future Plans of Boltz
In the coming months, Boltz will be working to improve user experience and offer more tools to minimize trust that is required for swapping coins. This includes allowing users to get data from their own node instead of our backend.
Right now, only Bitcoin and Litecoin are supported. So, you will have to wait and see if your favorite lighting-enabled cryptocurrency is supported in future. It will also be working on user friendly API that will allow other applications to bake Boltz’s service in.
April 5, 2019
| Litecoin News