El Salvador has turn out 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 appropriate? For, LTC has at all times been a backup onchain resolution. Keep in mind how prices rose in 2017? TRX’s major cryptocurrency was LTC. LN is unbelievable for little funds, however have you ever tried sending 500-2000-10000 USD by way of LN from one LN pockets to a different? /not from one pockets kind to a different?
They’ve additionally not too long ago put in a number of cryptocurrency ATMs in Las Vegas. On the native information networks, it was introduced. I haven’t seen any up to now, however I don’t get out an excessive amount of.
LTC’s prior historical past makes me nostalgic. Charlie Lee acknowledged: Consumer Activated Gentle Fork (UASF) is an acronym for Consumer Activated Gentle Fork. As an alternative of getting the mushy fork (SegWit) mined instantly, the person chooses to activate the mushy fork later. SegWit can be activated if nearly all 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 could be moved throughout chains in a decentralized method. It was a unbelievable 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 passed off! 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 unbelievable FutureBit LTC miners. He’s aiding 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 “typical monetary companies.”
He declared in an announcement translated from Spanish, “We should break with the paradigms of the previous.” “El Salvador has earned the correct 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 dwelling overseas pay again to their homeland every year.
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