GateHub, a platform for blockchain property that operates on top of the distributed Ripple payment protocol, introduced it has added assist for Litecoin and will checklist LTC beginning on June 2nd, 2021.
The platform will fully help LTC for deposits, withdrawals, and trading on its XRPL-driven trade. Moreover, LTC is available for investing with aid for fiat (USD, EUR) and cryptocurrencies (XRP, BTC, ETH, BCH, And so on, DSH) as very well as any other XRPL IOU.
Litecoin stated on GateHub
LTC will be completely supported on GateHub as any other cryptocurrency. Users will be in a position to crank out a deposit handle that will direct cash to their wallets. Sending LTC is carried out through GateHub owned wallets.
Importantly, the XRPL supports any-to-any trade consumers will be ready to swap LTC with any GateHub supported currency on the XRPL by means of GateHub’s trading application.
Functions of Litecoin
Litecoin is an open source software package job and early Bitcoin spinoff that was commenced in 2011 by Charle Lee. It works by using evidence-of-operate like Bitcoin but has a lowered block time generation (2.5 minutes), increased maximum offer (84M), and employs a unique hashing algorithm (scrypt instead of SHA-256).
To start with, Litecoin used addresses starting up with “L”. Then, pursuing the implementation of SegWit, the new address structure commenced with a “3” which was puzzling as Bitcoin also employs 3-addresses right after SegWit. Litecoin designed an adjustment and today Litecoin SegWit addresses start off with “M”.
People will use M-addresses for deposits though withdrawals to L and M-addresses will be supported.