Layer two payment protocol Lightning network has been gaining traction both in the Bitcoin and Litecoin network, it has surpassed 6000 nodes with over $2.4 Million in network capacity on Bitcoin. Litecoin is not behind, there are around 150 nodes with 100 LTC in network capacity according to 1ML.com at the time of writing.
The Coingate integration should give a boost to the adoption of Litecoin’s lightning network. There are over 4500 online merchants that are using Coingate’s solution. A merchant partner named SurfShark, a VPN provider has already enabled Litecoin’s lightning network and is allowing customers to send LTC almost instantly with cheaper fees.
Coingate was one of the first payment gateways to integrate Bitcoin’s lightning network last year and has seen an increase in adoption since. Coingate states:
“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.”
Coingate Tweets:
As noted by Litecoin.com, Coingate will be looking to integrate atomic swaps between Bitcoin and Litecoin next. Atomic swaps would allow trustless trading between different Cryptocurrencies and will enhance the ecosystem to enable Lightning payments.
Litecoin has been making progress in technological developments, Litecoin Core developers are looking to add privacy features like confidential transactions using the Mimble wimble technology. According to Charlie Lee, the privacy features will be an opt-in feature for users and would not need a hard fork of the network.
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