As encrypted investors continue to complain about price falls, some brilliant minds are working on more productive projects. A Swiss technology startup called Zulu Republic made it possible to send Litecoin through the popular Telegram messaging app.
Zulu mainly creates dApps for the Ethereum blockchain, so Lite.im represents a real advantage for the Litecoin community. As we all know (and we would do well to remember), the most significant barrier to the recovery in prices is the adoption of the real world. The millions of Telegram users could boost the price of Litecoin and increase awareness of the cryptocurrency in the process.
A bear market is the best time for people who work for adoption.
Check out https: // t. co / Ua8LQz9f4h. Send and receive LTC on the telegram. In the end, it will also support SMS. Great work @ztxrepublic team! 👏
We build it and it will come. Adoption is the key!
– Charlie Lee [LTC⚡] (@SatoshiLite) 9 August 2018
Many of the good news are about the details. Zulu's technology does not store private keys. Vital data like this are encrypted and password protected for the hack-free utility. Lite.im benefits from the already secure Telegram network. It is the excellence of Telegram on this front which made the first obvious choice for the dApp debut.
At launch, Lite.im users can transfer Litecoin with simple text commands. You will be able to send Litecoin to your wallets and email addresses. You can also check the Litecoin price or your Litecoin credit from your device.
In the future, users will be able to send Litecoin to any recipient of text messaging, even if they do not have a Litecoin wallet. Zulu hopes to create a dApp that works on different platforms to make payments with text commands possible, even if the recipient does not include cryptocurrency at all.
In the coming months, Zulu wants to expand Lite.im to other messaging platforms. SMS is the next goal (BIG). Being able to make Litecoin payments available to anyone with text messaging would greatly extend the potential user base of Litecoin. The Litecoin price, which was considered "too low" in early August, would be safe to follow.
says Zulu, "While ~ 64% of the global population has a mobile phone, only ~ 33% have a smartphone, which means that there are almost twice as many people with SMS capabilities as with mobile Internet. of cryptocurrency to these underdeveloped and vulnerable populations, we aim to provide a degree of financial agency, autonomy and security to which they have been denied so far. "
It is easy to forget among all the speculation talk about prices that one of the most fundamental of the cryptocurrency is the unbanked service. Financial freedoms are scarce for many and the ability to transfer money from a personal device, without company supervision, is extremely significant.
Litecoin was once the second most precious cryptocurrency in the world, in terms of market capitalization. Today he is in 7th place. The adoption of the real world like this could make it still contend for second place.