The trending catchphrase in the last few days has been that Litecoin is now compatible with Blocknet. This means that LTC can now work as a cross-blockchain digital currency, enabling it to be connected to other digital currencies.
Blocknet is the internet of blockchains (so it describes itself), empowering passionate enthusiasts and communities behind digital currencies with atomic swaps.
It’s a protocol through which information can be transferred without going through a central server. It also stated that it makes all these happen through its reliable decentralized trading platform, and it functions as a link between digital currency markets, the blockchains, and the community around them.
Litecoin Can Now Be Used in Cross-Blockchain Decentralized Apps
In a post, Blocknet stated that now that Litecoin is compatible with the protocol of Blocknet, Litecoin can be used in cross-blockchain decentralized applications including a payment processor that will allow Litecoin payments to be made in other currencies or vice-versa.
This is indeed a great news for LTC, as it will help to increase the adoption of the digital currency. It could also expose LTC to a massive demand indirectly, helping to further increase the value of the cryptocurrency.
The Current Value of Litecoin
This digital currency has developed so much irrespective of the fierce rivalry. The present value of the digital currency is at $143, after an increase of 1 percent in the past twenty-four hours. Over a period of seven days, the digital currency has lost over 20 percent of its value.
The recent decrease in value has got investors complaining, getting the attention of Charlie Lee who said: “it is strange to see how people are complaining that Litecoin and Bitcoin are dead digital currencies because their market values went down to $140 and $8000 respectively. A year ago, the values were about $30 and $1,800. Back then, people would have killed for the prices of today.”