The swap is particularly important because it was made off chain, meaning that
ownership of the coins changed hands, but there was no transaction recorded on either Blockchain.
The litigation was still ongoing, so Kobayashi was tasked with the challenge of when to sell the coins to protect creditors from losing their full principal, while also giving them a chance to fight for the
rightful ownership of the coins rather than cash at bankruptcy valuations.
When Litecoin succeeds, I will still be rewarded in lots of different ways, just not directly
via ownership of coins.
The Lightning Labs development team successfully swapped testnet bitcoin for testnet litecoin through a lightning channel this week:
ownership of the coins changed hands, while no transaction was recorded on either blockchain.
If there is no fork, operations will continue as usual, but, if there is, every blockchain user will be given their
rightful ownership of coins, and they will support every type of bitcoin on their trading platform.
When Litecoin succeeds, I will still be rewarded in lots of different ways, just not directly
via ownership of coins.
Additionally, this implementation makes it possible to create atomic swaps between different blockchains» coins which means that
the ownership of coins of different blockchains could be swapped without a third party as an intermediary.
When person X sends Litecoins to person Y, it means X is signing off
ownership of the coins to Y's wallet's address.
It is also used to show optimism in a coin as a way of attracting others to also partake in
the ownership of the coin.
The physical bitcoins were emblazoned with real private keys, and the purchaser of the work took over
ownership of the coins.
development team successfully swapped testnet bitcoin for testnet litecoin through a lightning channel this week:
ownership of the coins changed hands, while no transaction was recorded on either blockchain.