El Salvador has grow to be the primary authorities to simply accept Bitcoin as authorized tender, sparking debate within the nation and all through the world about the advantages and dangers of cryptocurrencies.
Picture Supply: Tokens24
Based on Litecoin Journal, who referenced a video, “Do you know that when El Salvador adopted Bitcoin as authorized tender, in addition they accepted one different coin?” Litecoin (LTC) is at the moment the one different cryptocurrency accepted by ATMs in El Salvador.
Is that this right? For, LTC has at all times been a backup onchain answer. Keep in mind how prices rose in 2017? TRX’s major cryptocurrency was LTC. LN is incredible for little funds, however have you ever tried sending 500-2000-10000 USD through LN from one LN pockets to a different? /not from one pockets kind to a different?
They’ve additionally lately put in a number of cryptocurrency ATMs in Las Vegas. On the native information networks, it was introduced. I haven’t seen any thus far, however I don’t get out an excessive amount of.
LTC’s prior historical past makes me nostalgic. Charlie Lee acknowledged: Consumer Activated Smooth Fork (UASF) is an acronym for Consumer Activated Smooth Fork. As an alternative of getting the smooth fork (SegWit) mined instantly, the person chooses to activate the smooth fork later. SegWit can be activated if the vast majority of customers and exchanges run the UASF code.
On September 20, I accomplished my first on-chain atomic swap between LTC and DCR with Decredproject. This demonstrates how currencies will be moved throughout chains in a decentralized method. It was a incredible proof of idea that cleared the way in which for decentralized exchanges sooner or later.
On November 16, the primary Lightning cross-chain swap between BTC and LTC befell! This realized my dream of LTC and BTC coexisting on the Lightning Community. That concludes the historical past of Litecoin’s SegWit and LN.
Oh, and with John Stefanopoulos, there was additionally the primary cross-chain atomic swap between Litecoin and Bitcoin. John is the mastermind of the incredible FutureBit LTC miners. He’s helping with mining decentralization!
Bukele has beforehand acknowledged that legalizing Bitcoin will encourage funding within the nation and help the almost 70percent of Salvadorans who lack entry to “standard monetary providers.”
He declared in a press release translated from Spanish, “We should break with the paradigms of the previous.” “El Salvador has earned the suitable to progress into the primary world.”
Based on the Related Press, Bukele has additionally acknowledged that adopting Bitcoin could be an efficient approach to transfer the billions of {dollars} in remittances that Salvadorans residing overseas pay again to their homeland annually.
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