litecoin [LTC] The founder endorses CoinGate as the newest payment processor

litecoin [LTC], the seventh largest cryptocurrency in the world and best known for being created to provide compatibility with Bitcoin [BTC], confirmed that the Foundation accepted CoinGate as the official cryptocurrency payment processor.

The tweet originally published by CoinGate said it will work on the Lightning network at the start of this partnership. The tweet read:

"We are thrilled to announce that #LitecoinFoundation has accredited CoinGate as an official and reliable #Litecoin payment processor! With the trust of the Foundation, we are continuing our work on the upcoming #LightningNetwork of Litecoin More information on this soon!"

Announcement of the partnership by Litecoin handle | Source: Twitter

In other developments and collaborations of the Litecoin ecosystem, it was noted that the Foundation took a survey on Twitter for public preferences between two choices for PayWithLitecoin: Uber or Lyft. The aforementioned are the main players in the sector but not limited to the transport sector.

This survey was indicative of Uber as the winner with 74% of the votes assigned to the selection. Lyft received a paltry 26% of the total votes.

PayWithLitecoin was a campaign launched by the Litecoin Foundation to guide the exponential adoption of LTC in the daily lives of normal people. The practice is relevant in countries like Australia, with a startup called TravelByBit at the helm of the campaign, not only for Litecoin but also many other great cryptocurrencies.

Jessy, a follower of cryptocurrency and blockchain commented on the tweet, addressing:

"So … can the Litecoin Foundation decide which of Litecoin's trusted payment partners are? #Decentralized"

Against the "reliable #Litecoin payment processor" statement by CoinGate, a user named Nick LTC replied:

"Accredited by the foundation, it has no effect on what you have chosen to accept."

Follow us on Telegram | chirping | Facebook

Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.