Litecoin Becomes Compatible with Blocknet
The team behind LTC has been working on yet another project that might affect Litecoin to go up and sky-rocket to the moon, even potentially getting back to its old spot as the fifth-best currency.
This time, there is a word going around for a couple of days already that Litecoin has just become compatible with Blocknet.
That would mean that LTC is now enabled for cross-chain operations, which indicates that Litecoin is now able to work as a cross-chain crypto that would further enable LTC to interact with other digital assets.
This is actually a pretty big deal for Litecoin, as for any other currency that could have ended in its place, because Blocknet represents a massive platform, representing its potential as the internet of blockchain ecosystems.
With the above-mentioned title, Blocknet is working on providing more power to digital assets that make it with getting compatible with Blocknet. The empowerment comes in form of the protocol known as an atomic swap.
Atomic swap enables assets to exchange information with other assets without the basic requirement of having the main server. This protocol also enables these assets to exchange data between different exchange markets and compatible blockchain platforms, which enabled a faster exchange of information and representing a bridge between different blockchain-based decentralized ecosystems.
The presumption that LTC became compatible with Blocknet was officially confirmed on the official Twitter page of Blocknet when the representatives of this platform confirmed that Litecoin has become compatible with their system.
Further, in the statement, Blocknet provided the information that all users of Blocknet Protocol will now be able to use LTC for cross-chain decentralized applications. Furthermore, LTC will also be enabled for getting directly exchanged for any other available currency during payments that can be paid with Litecoin. The process is also enabled in reverse.
This case could contribute in a great way to the further strategy of mass adoption of Litecoin, possibly pushing its value and having an increased demand for this digital asset.
