Lithuania-based CoinGate, a payment gateway for blockchain payments, announced last week that it has added support for Litecoin (LTC) Lightning Network payments, allowing for faster payments with lower fees.
— Litecoin.com (@LitecoinDotCom) February 9, 2019
According to an accompanying blog post by the Litecoin Foundation, CoinGate added the Litecoin Lightning Network after completing an initial test period with merchant partner SurfShark, a VPN provider. Now, the company has opened up the payment option to the more than 4,500 merchants currently leveraging the CoinGate platform.
“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,” said the CoinGate team.
The Litecoin team notes that this concludes a bet made 4 months ago between Litecoin creator Charlie Lee and Roger Ver, CEO of Bitcoin [dot] com, who bet that Litecoin could not get 1,000 merchants to accept Lightning Network payments within 18 months. Ver will now have to sport a Lightning Network T-shirt an admit he was wrong (don’t count on it).
According to data from 1ML, the Litecoin Lightning Network currently has an 88.49 LTC capacity with 795 channels and 139 nodes.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.