Lightning Network Chiang Mai


Supercavitation Swaps

Posted 2019.01.15

In November of 2018, Lightning Network Chiang Mai (LNCM) participated in a hackathon organised by Rootstock. We claimed victory with the creation of a technical demo for a system called "Supercavitation Swaps".

Supercaviation Swaps uses the Lightning Network to allow BTC to be swapped for RSK's RBTC, quickly, cheaply, and in a trust-minimized way. Swaps are settled in under a minute, have low fees, and are completed without having to trust a centralized exchange or federation.

Our approach allows any user with a Lighting Network wallet to easily onboard onto RSK, and even those who don't already own any RBTC can do so safely in a novel, trust-minimised way.

During the 24 hour hackathon, we deployed a working demo to the RSK testnet, using testnet Lightning BTC and a frontend on IPFS.

We built upon the ideas of Lightning to BTC Atomic Swaps ("Submarine Swaps") by Alex Bosworth and Lightning to ETH Atomic Swaps by Jason Wong.

For more a more detailed overview on the rationale and to view the code, please have a look at the github repository.

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