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According to reports from the Lithuanian cryptographic payments giant, Coingate will make it possible to lighten the litecoin for 1000 traders through its network. The colossus of the Lithuanian crypt was the first payment processor to allow Bitcoin payments to be lightened in June of this year, which was very well received.
The Lithuanian company was founded 4 years ago and since then has been able to have over 50,000 customers and over 4,000 merchants worldwide who have accepted Bitcoin. Cokeate litecoin's approval was confirmed by the creator of litecoin Charlie lee via social media when he tweeted; Even Litecoin will soon have more than 1000 merchants accepting LN payments! Thanks to @CoinGatecom!
The tweet of Charles Lee was preceded by a tweet of Coingate who read, the community of @litecoin, we bring some interesting news! Our #Litecoin #LightningNetwork is ready to be distributed and will soon be available on CoinGate! Keep up to date with the news as we approach!
The Coingate network has grown in steps of 1000 channels with a value of 4 BTCs to over 16,000 channels with a value of over 500 BTCs. The network may still be at an early stage, but signs of increased adoption and testing are already on show, with people using it to make coffee payments and interaction with vending machines.
Litecoin has always been at the forefront of innovation, which makes Coingate's partnership the most significant. Litecoin has had technological milestones in the Segwit way; the atomic swaps were first tested on the litecoin network before adopting them in Bitcoin.
Litecoin is not only a test network for Bitcoin, but also offers greater liquidity, enjoys a broad adoption by traders and also collects the benefits of a penetration exchange of consolidated cryptographic networks.
The Litecoin and Bitcoin lightening network may still be a long way from traditional adoption, but traders are increasingly applying the network, giving the feeling that we will finally get there one day. Before full adoption can be considered, many tests and improvements must be made on the side of network security and on the UI / UX side.
I am passionate about encryption based in Nairobi, Kenya, which loves investing, writing research, reading, fitness, African food and soccer. In case you're wondering, I like girls too.
