GateHub, a platform for blockchain assets that operates on prime of the distributed Ripple cost protocol, introduced it has added assist for Litecoin and can checklist LTC beginning on June 2nd, 2021.
The platform will totally assist LTC for deposits, withdrawals, and buying and selling on its XRPL-powered trade. Furthermore, LTC is offered for buying and selling with assist for fiat (USD, EUR) and cryptocurrencies (XRP, BTC, ETH, BCH, ETC, DSH) in addition to every other XRPL IOU.
Litecoin listed on GateHub
LTC will likely be totally supported on GateHub as every other cryptocurrency. Customers will have the ability to generate a deposit deal with that may direct funds to their wallets. Sending LTC is finished through GateHub owned wallets.
Importantly, the XRPL helps any-to-any trade; customers will have the ability to swap LTC with any GateHub supported forex on the XRPL through GateHub’s trading app.
Options of Litecoin
Litecoin is an open supply software program challenge and early Bitcoin spinoff that was began in 2011 by Charle Lee. It makes use of proof-of-work like Bitcoin however has a decreased block time era (2.5 minutes), elevated most provide (84M), and makes use of a unique hashing algorithm (scrypt as a substitute of SHA-256).
Firstly, Litecoin used addresses beginning with “L”. Then, following the implementation of SegWit, the brand new deal with format began with a “3” which was complicated as Bitcoin additionally makes use of 3-addresses after SegWit. Litecoin made an adjustment and immediately Litecoin SegWit addresses begin with “M”.
Customers will use M-addresses for deposits whereas withdrawals to L and M-addresses will likely be supported.