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One of the largest payment gateways Crypto CoinGate will enable Litecoin Lightning payments for more than 1000 merchants using its network.
CoinGate was the first payment processor to allow Bitcoin lightning payments to traders in June of this year, the company has now allowed merchants to accept Litecoin using a lightning strike network. The Lithuanian-based company was founded in 2014 and boasts over 50,000 customers and over 4,000 merchants worldwide who accept Bitcoin.
Litecoin creator, Charlie Lee tweeted:
Even Litecoin will soon have more than 1000 merchants accepting LN payments! 🚀 Thanks @CoinGatecom!
https://t.co/0JXvC9Xp3H— Charlie Lee Ⓜ️🕸️ (@SatoshiLite) December 13, 2018
The Bitcoin lightning network has grown from 1,000 channels of 4 BTC in February to over 16,000 channels worth about 500 BTC. Although it is the early days of technology, we are able to see greater adoption and testing of the lighting network to pay for coffee or transactions in vending machines and even some online stores accept Bitcoin via a lightning network.
Blockmanity has previously reported that Litecoin has the largest number of ATMs and trade penetration after Bitcoin.
Litecoin adoption
Litecoin has always been at the forefront of innovation, technological improvements such as Segwit and atomic swaps were first tested on the Litecoin network before adopting it in Bitcoin. Litecoin not only serves as a test bench for the Bitcoin network, but also benefits from a well-established Crypto network such as the penetration of the exchange, the increase in liquidity and the adoption by traders.
Take of Blockmanity
Traders who integrate the lightning network for Bitcoin and Litecoin represent a step in the right direction. But the lightning network is still in the early stages far from traditional adoption. Before reaching traditional adoption, it is necessary to perform many tests and improvements on the user interface and on the security side of the technology.
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