Litecoin’s Lightning Network Growing Steadily

According to data from 1ML, the Lightning network for Litecoin has surpassed 100 active nodes and currently standing at 101 nodes.

The Lightning network for Litecoin had not made such an impact in the early stages of launch. The low need of it was not needed as badly as Litecoin has been achieving speedy block times.

The low growth rate was also due to the technicalities involved with involvement only by tech-savvy users.

However, as the crypto space is progressing in the speed of ‘light’ Lightning network is seen to be tested vastly. Much friendly user interfaces such as Zap has made it easier for the less tech-savvy individuals to get on the Lightning network.

The Lightning network is known to be the ‘Transactions for the Future’ and utilizes a peer to peer system to make micropayments of a digital cryptocurrency.

Litecoin is seen to be making breakthrough progress not only in terms of technology but also marketing. Litecoin became the official cryptocurrency partner of an Ultimate Fighting Champion event on the 29th of December 2018. The event was UFC 232: Jones vs. Gustaffsson 2. Litecoin’s logo was widely seen and announced during the UFC event which helped gain a lot of attention amongst the millions of UFC fans.

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Ilir Gashi, the community manager of Litecoin Foundation, explained Litecoin’s highlights for 2018 in a medium post. The key take away is the adoption of Litecoin especially among merchant processors, merchants and businesses. Hence Litecoin being one of the first cryptocurrencies to adopt Lightning Network is a huge benefit to its ecosystem.

Gashi’s post mentioned the need of Lightning network for a more user-friendly experience for Litecoin transactions. He even mentioned about incorporating Atomic Swaps and privacy features into the digital currency.

Litecoin’s approach to marketing as the official cryptocurrency partner of a UFC event highlights the impact it wants to make in 2019!

Litecoin at the time of writing is ranked at 7th position with a market capitalisation of $2,071,291,897 and in the green at $34.59.

Image Source – Pixabay

 

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