Bitcoin (BTC) Lightning Network Gets Support From Litecoin [LTC] Creator Charlie Lee
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Bitcoin (BTC) Lightning Network Gets Support From Litecoin [LTC] Creator Charlie Lee

In the wake of pushing for SegWit’s actuation on Litecoin (LTC) and Bitcoin (BTC), Charlie Lee took to Twitter to show his eagerness for the Bitcoin Art Gallery. It is a pixel art game fueled by BTC Lightning Network that pays 1 Satoshi for changing 1 pixel on the board.

Lightning is a decentralized, off-chain network that takes after a multi-jump center and talked about a model with the potential to stretch out Bitcoin’s versatility to billions of transactions for each day. The launch of the Bitcoin Art Gallery has demonstrated exactly how effective the Lightning Network is. Notwithstanding the recorded advantages, this system will likewise empower instant, low-cost payments, and atomic cross-chain transactions.

Charlie Lee said about Bitcoin’s high transaction fee and confirmation period:

“Lightning Network solves both these problems for Bitcoin and SegWit solves a few more! i hope Litecoin can help Bitcoin get SegWit soon.”

The security of BTC exchanges relies upon digital marks as the prime identifiers. A blockchain record is permanent and modifies signatures with each new message added to the record. In Lightning Network, the exchange is neither communicated or shut without the twofold marked check done by both the parties.

In this case, an attacker might be able to change the identifier by means of signatures prompting an invalid exchange. SegWit’s most valuable feature is that it fixes the problem of transaction docility. It rejects signatures as identifiers simultaneously.

Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trading volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin
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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.