The cryptocurrency markets have been rather bearish for the last couple of weeks. However, there are interesting positive developments on the horizon. Litecoin (LTC) has announced that it is now compatible with Blocknet Protocol, which greatly simplifies the task of converting one crypto to other.
Litecoin has a lot of advantages – low fees, fast transactions, and impressive scalability. However, it still cannot compete with bank and cash transactions. Moreover, converting one cryptocurrency into another involves a lot of effort and exposes the users to unnecessary security threats.
Blocknet Protocol gives the opportunity to exchange virtual currencies without intermediaries by means of atomic swaps, so anybody can purchase Litecoin without the involvement of any third parties.
The system is very convenient for business owners, who can offer customers the option to pay in fiat or in different types of crypto. These funds will be automatically converted into Litecoin. This way the customers get to choose their favorite currency and the business owners will have all the revenue in Litecoins.
Another good news for Litecoin is its upcoming listing on one of the most influential and regulated exchanges Gemini. The exchange has an excellent reputation as a company which is 100% compliant with all existing standards and regulations. The exact date of the listing remains unknown. Some experts expressed their hopes that all these positive developments will help Litecoin reclaim the 5th place among cryptocurrencies by market capitalization.