On 13th December, Coingate, a popular cryptocurrency exchange for trading Bitcoin [BTC] and altcoins announced on Twitter that the Lightning Network of Litecoin is finally ready for deployment. Furthermore, CoinGate has offered itself as a platform for the activation to take place. In the original tweet by the exchange, the company wrote:
“@litecoin community, we bear some exciting news! Our #Litecoin #LightningNetwork is ready to be deployed and will soon be live on CoinGate! Keep up with the news as we’re getting closer! Here’s a little sneak peek @LTCFoundation @SatoshiLite @starkness!”
On this, Charlie Lee, the Father of Litecoin and a veteran computer scientist cheered:
“Even Litecoin will soon have more than 1000 merchants accepting LN payments! 🚀 Thanks @CoinGatecom!”
From time to time, Charlie Lee has projected that the project that fills him with enthusiasm in the cryptocurrency space is the Lightning Network. For instance, in a recent interview with CNBC, the techie revealed that he is the “most excited about” the LN.
According to him, the Lightning Network is a second-layer solution for payments going through Bitcoin and Litecoin. He also believes that the network is getting stronger over the years wherein SegWit was also activated last year.
Another distinct view held by the Litecoin creator is that the concept and mechanism of LN is in sync with the vision projected by Satoshi Nakamoto in Bitcoin’s whitepaper titled “A Peer-to-Peer Electronic Cash System”. In another interview, Lee had said that the payments on the Lightning Network are peer-to-peer and can work even when the parties or peers participating are not connected to the Internet.
A Twitter handle named Bitcoin Opinions – Litecoin’s Cousin on the announcement wrote:
“Don’t say “We bear news”!! 😡 That’s the evil B-word!!! Why not just “have news”, all right?”
Supernova, a cryptocurrency enthusiast and a blockchain space follower commented:
“That’s the kind of answer what precisely causes the current price effect of good news”
Subscribe to AMBCrypto’s Newsletter