Litecoin [LTC], the seventh-largest cryptocurrency in the world and best known to have been created to provide compatibility to Bitcoin [BTC], confirmed that the Foundation has accepted CoinGate as their official payment processor for the cryptocurrency.
The tweet originally posted by CoinGate mentioned that it will be working on the Lightning Network at the onset of this partnership. The tweet read:
“We are thrilled to announce that #LitecoinFoundation accredited CoinGate as the official, trustworthy #Litecoin payment processor! With the confidence of the Foundation, we continue our work on upcoming Litecoin’s #LightningNetwork. More info on that soon!”
In other Litecoin ecosystem developments and partnerships, it has been observed that the Foundation took a Twitter poll for public preference between two choices for PayWithLitecoin: Uber or Lyft. The mentioned are the leading players within the domain of but not limited to the transportation industry.
This poll was suggestive of Uber as the winner with 74% of votes allocated to the choice. Lyft received a meager 26% of the total votes.
PayWithLitecoin was a campaign launched by the Litecoin Foundation to drive exponential adoption of LTC into the daily lives of regular people. The practice is relevant in countries such as Australia, with a startup called TravelByBit driving the campaign, not just for Litecoin but many other big cryptocurrencies as well.
Jessy, a cryptocurrency and blockchain space follower commented on the tweet, addressing:
“So… the Litecoin Foundation can decide which are the trustworthy Litecoin payement partners? #decentralized”
Against the “trustworthy #Litecoin payment processor” claim by CoinGate, a user named Nick LTC responded:
“Accredited by the foundation, Has no effect on what you chose to accept.”
The post Litecoin [LTC] Foundation endorses CoinGate as the most recent payment processor appeared first on AMBCrypto.
Author: Priyamvada Singh