Blocknet Integrates Litecoin To Facilitate Cross-blockchain DApps
Blocknet, which offers the infrastructure for blockchain interoperability, has announced the integration of Litecoin (LTC) with its fully decentralized P2P trading platform Block DX. The integration facilitates the creation of cross-chain DApps with Blocknet Protocol. For example, payment processors will be able to accept Litecoin and then pay in another cryptocurrency or vice versa.
Blockchain technologies enable one to exploit cryptographic proofs to deliver “trustless” services, where each participating entity may prove to itself the certitude of a given outcome, and thus radically reduce the amount of trust required to do business with another party. This systematically enlarges the range of ways of doing business, enables many new business models, and may provide clearly defined security guarantees, lowering costs and better protecting brand value. Yet blockchains cannot immediately achieve their true potential, for the primary reason that they are not interoperable.
Blocknet is the foundational infrastructure for the token ecosystem. It provides true peer-to-peer interoperability between nodes on different blockchains. Blocknet is positioned to enable the frictionless monetization of APIs, and in doing so, to empower blockchain technology by converting its thousands of isolated chains into a token ecosystem.
— The Blocknet (@The_Blocknet) May 12, 2018
Blocknet is governed by the community without a centralized entity. Blocknet supports its own maintenance and development through a treasury system that allocates an additional 10% of all new coins minted each month.
Blocknet offers the following features:
- Interoperability – Blocknet is inter-blockchain infrastructure. Additionally, it shall be interoperable with centralized entities in order to make traditional server-based services available within the token ecosystem.
- Trustless service delivery
- Simple integration – integration to the Blocknet and access to the token ecosystem shall not require modification of stock wallets or nodes.
- Decentralized integration – integration to the Blocknet and access to the token ecosystem shall not require the mediation of any central entity (including Blocknet itself).
It is easy to setup Block DX and begin true P2P trading of cryptocurrencies, including Litecoin