Cryptocurrency processing platform CoinGate started testing Lightning Network for payments in Litecoin (LTC).
As noted by the marketing Manager CoinGate Tinsel Veronica (Veronika Mishura), the company believes that the integration of the Lightning Network in Litecoin encourages the use of cryptocurrency due to the significant reduction in the fee. She said currently, about 10% of the turnover platform accounts for LTC.
“Honestly, one of the most used services from cryptoendoliths is a VPN, we see this in our data. However, because of the rather low price to pay for it in BTC or LTC unprofitable. And that’s exactly what should decide Lightning Network. We’re trying to demonstrate — payment cryptocurrency even cheap products should be feasible, convenient and cheap,” said Tinsel.
The first seller, who will start to use Lightning Network for Litecoin, there will be a supplier of VPN services the company Surfshark. Manager CoinGate added that the company expects to the interest of all 4,5 thousand of them merchants in the integration of the LN to reduce the costs of both parties.
Recall that the primary network Protocol of the second level Lightning Network designed to provide instant transactions at almost zero cost, was launched in January last year. By December, its capacity has reached 500 BTC, an increase of more than 100 times.
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