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Litecoin Lightning payments now accepted by over 4,500 merchants around the world

Biraajmaan Tamuly

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Litecoin [LTC]: Litecoin Lightning payment now accepted by 4500 merchants around the world
Source: Pixabay

Litecoin has been taking huge strides this year with multiple deals and brand promotions with huge organizations. The coin even announced recently that Litecoin Foundation had approached Beam about a partnership to implement Mimblewimble via Extension Blocks on Litecoin.

The virtual currency did not stop with the announcement alone, however. Litecoin has announced that Coingate, one of the largest cryptocurrency payment gateways which handles transactions for over 4,500 online merchants, had been exploring integrating Lightning Network payments on its platform. The initial test period with merchant partner SurfShark, a VPN provider, has been officially completed and Coingate has finally enabled Litecoin Lightning Network support to all their merchant partners, allowing customers to conduct instant payments with significant cheaper fees.

The payments gateway platform was established in 2014 and is based in Vilnius, Lithuania. The payment gateway has enabled various businesses to accept Bitcoin and Altcoin payments. The company offers payouts either in BTC or in EUR/USD, eliminating any risk associated with Bitcoin price volatility. Users can also buy BTC from CoinGate using bank transfer, credit and debit cards, and mobile balance [phone credit], or sell their BTC to CoinGate.

Coingate integrated the Bitcoin Lightning network last year. Bitcoin as a cryptocurrency has existed in the market for 10 years, however, the lightning network is still in a phase of infancy. Coingate had then expressed their elation at the uptake in adoption, stating:



“Since the launch, we saw over 30,000 created orders to pay with Lightning which suffice as a strong sign that both our customers and the crypto community have a keen interest in this development. Seeing the huge potential it has, we decided to keep developing the feature, but this time, for Litecoin.”

The Litecoin Lightning Network has continued to slowly develop and according to reports published on 1ML.com, the network had almost 1,000 active channels, a 150% increase along with a 200%+ capacity increase, in part due to the recent 30% price rise of Litecoin.

According to CoinGate, they are looking to integrate atomic swaps between the Bitcoin and Litecoin Networks, a technology that would allow trustless trading of assets.





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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
Source: Unsplash

Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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