The trading platform GateHub supported by XRP Ledger adds support for Litecoin (LTC)

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GateHub, a platform Blockchain assets It runs on top of the distributed Ripple payment protocol and announced that it has added support for Litecoin and will start to list LTC on June 2, 2021.

The platform will fully support LTC’s deposits, withdrawals and transactions on its XRPL-driven exchanges. In addition, LTC can be used to support fiat currencies (USD, Euro) and cryptocurrencies (XRP, BTC, ETH, BCH, ETC, DSH) and any other XRPL IOU transactions.

Litecoin is listed on GateHub

LTC will be fully supported on GateHub like any other cryptocurrency. Users will be able to generate a deposit address and transfer funds to their wallets. Send LTC through a wallet owned by GateHub.

Importantly, XRPL supports any-to-any exchange; users will be able to exchange LTC with any currency supported by GateHub through GateHub’s XRPL Trading application.

Features of Litecoin

Litecoin is an open source software project, an early Bitcoin derivative product launched by Charle Lee in 2011. It uses proof of work like Bitcoin, but reduces the block time (2.5 minutes), increases the maximum supply (84M), and uses a different hash algorithm (scrypt instead of SHA-256).

first of all, Litecoin The address used starts with “L”.Then follow Implementation of Segregated Witness, The new address format starts with “3”, which is confusing because Bitcoin also uses 3 addresses after SegWit. Litecoin has been adjusted, and today the Litecoin SegWit address starts with “M”.

Users will use the M address for deposits, and support withdrawals to the L and M addresses.

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