Kava Labs Releases New Non-Custodial ‘Switch’ Trading Solution For Bitcoin (BTC), (ETH) and XRP
Kava Labs has decided to unveil one of its latest projects, Switch. Just a week after the company announced that it was developing a new USDX stablecoin based on Ripple’s XRP token using Cosmos, it made the news again with the announcement of Switch.
Switch will be a new non-custodial wallet that can be used for crypto trading activities. According to the reports, it will be available for the three most important tokens in the market today: Bitcoin (BTC), Ripple’s XRP and Ethereum (ETH).
Bitcoin will be supported using the Lightning Network and LND, while Ethereum will use the Machinomy payment system and XRP will use its native payment channels provided by Ripple, basically RippleNet.
The company also affirmed that the new Switch platform is not really a traditional decentralized exchange (DEX) but rather something very different from that, as it will employ streaming micro payments. They will work by moving some bits of the whole price until the entire payment is finally complete.
Switch will also use the Interledger protocol in order to provide some liquidity to the network. By using this program, the software will be allowed to send packets over a decentralized network of connectors and some other kinds of liquidity providers in the market today. This way, the users will be able to make P2P transactions and payments using the platform.
This new system will soon be available for Windows, Linux and Mac computers. At the moment, it does not look like mobile options will be available, but they may appear soon.
— Kava Labs (@kava_labs) May 23, 2019