CoinGate, after getting a lot of positive response from their users they decided to adopt Litecoin (LTC) Lighting Network. According to the official statement of CoinGate which stated that they recognize the importance of the LTC network and with such huge potential and increasing demand they went for the Litecoin super-fast network. The support of the CEO of Litecoin, Charlie Lee and the Litecoin foundation has been very pleasing. As per the tweet from Litecoin, it stated:
“If you’re a merchant who’d like to be in the forefront of payments technology. CoinGate is the first to help merchant provider to accept Litecoin Lightning payments.”
CoinGate is one of the biggest crypto payment networks and the Litecoin integration will help it expand its service to over more than 4.5K merchants globally. At the moment, customers can buy different products using LTC’s lightning network. It is still in early phases and after it starts to work properly the service would be provided to all the 4.5K+ merchants.
The Litecoin (LTC) provides with a thrilling lightning network, which provides users with a fast and low-cost service. As the Litecoin network goes on increasing every single day, they have seen 90% increase in its capacity since the passing the 100 nodes. The LTC LN adoption by GoinGate is all set to escalate its network with further growth in coming days.
The introduction of Litecoin’s LN will help in increasing the adoption of CoinGate, as well as the adoption of Litecoin. One of the first merchants that adopted the LN of Litecoin, SurfShark and know it’s GoinGate. So, the different organizations are understanding the importance of this network. The online privacy which provides users to have hidden transactions, with low-cost service and high scalability.
Moreover, Bitbill has also added Litecoin MultiSig support for both Android and iOS. Bitbill is one of earliest Bitcoin payment platforms and Litecoin’s addition is a very good sign for the digital asset. The MultiSig which is based in Bitbill’s network is a decentralized platform which is independent from the Bitbill server.
The users of the BitBill wallet has the option to set the number of participants in the account. Those participants would have to give their signatures, so they could be notified of instigated transactions. The users can also track the approved payments within the Bitbill app.
One of the recent successes for Litecoin has been the mining of 60 million LTC. With all these updates, Litecoin has shown signs of progress which is good to see and beginning 2019 with such exclusive updates will help it later in the year. But, despite of all these developments, the market hasn’t shown good signs at all. Due to the bear market majority of the altcoins are trading in red territory.
At the time of writing, Litecoin (LTC) has dropped up to –6% in the last 24 hours. It was trading with a price of $31.17 USD having a market cap of $1.8 billion. From last week the coin has dropped a significantly due to Bitcoin’s dropping effect.