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Litecoin (LTC) Charlie Lee Shares his Opinion on Lightning Network

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Litecoin

The attitude towards the Lightning Network grows even more positive after yesterday’s tweet posted by Litecoin founder, Charlie Lee. Lee has announced strong support for the Lightning Network (LN), and stated that it is an excellent solution for atomic swaps and boosted BTC transactions.

Charlie Lee stands behind the Lightning Network

The Lightning Network has gained another strong supporter, with a large part of the crypto community standing behind him. The founder of Litecoin (LTC), Charlie Lee, did not exactly try to hide his support an enthusiasm for LN. He was especially supportive of it yesterday when he released a tweet stating that the LN might even become a full decentralized exchange, where LTC could play a large role.

According to him, those who find that BTC takes too long to process the payments, and has too high fees could easily open an LTC payment channel. This is much cheaper and quicker solution, and going through with atomic swaps in order to get Bitcoin (BTC) is the easiest thing to do at this point. Generally, his opinion is that LTC has a great potential to become the best crypto to be used on LN.

According to Lightning Labs, the network already has a beta feature that allows the selection of two coins. However, the connection has yet to go live on the MainNet. On the other hand, LTC already has an independent LN and has already finished testing the atomic swaps. Still, there is still no realistic way to achieve interoperability between the blockchains.

Despite this, LTC continues to remain among the most actively used cryptos due to its low transaction fees and great speeds. Bitcoin’s network is also working to overcome these issues, and the fees are already a lot lower than they used to be. Through the use of LN node routing, Bitcoin is also trying to increase the size of the transactions as well.

The LN still has potential, it just needs better solutions

The Lightning Network has been in development for several years now, and the team behind it has made a lot of progress in that time. It eventually went live earlier this year, in March, and it started out as several experimental channels that were used for making very small transactions.

Soon after the launch, a number of traffic troubles appeared, and there were even some small losses during at the beginning. The risks were still present, and the users were advised to only test the network out, and not use it for serious, large transactions. Despite the rough start, things did get better over time, but there is still much work to be done, and the LN’s capacity remains limited to this day. Additionally, not all of its nodes have the same level of importance.

As an attempt to expand the LN, Viacoin’s (VIA) chief developer tried to connect it to the Bitcoin Lightning Network. However, such attempts have failed. However, Viacoin does seem to be the right candidate for future swaps with Bitcoin, and so does Decred (DCR).

For now, the LN remains an experimental setup, at least until the major issues are resolved. There is still a lot of testing involved, and even more that has yet to be done. However, Running a node on LN is not free, and the larger the node, the bigger the influence that its owner has.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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