Lite.im Introduces A Way For US Litcoin (LTC) Users To Make Lite SMS Payments
Lite.im is one of the most powerful services currently available to cryptocurrency enthusiasts. The service is popular among crypto fanatics due to the fact that it facilitates the use of Litecoin SMS payments to anyone residing in the United States.
— Litecoin.com (@LitecoinDotCom) September 15, 2018
It is believed that simplifying cryptocurrencies by making them easier to use will assist in improving the overall adoption of this technology across the globe. Many cryptocurrency enthusiasts are of the belief that mobile services will play an essential role in improving crypto adoption among the populace.
Despite the fact that cryptocurrencies have been around for a few years now, it is still not possible to send, receive, or make cryptocurrency payments through the use of simple text messages.
Even though there are a few services in operation today that have made this possible for Bitcoin Cash and Bitcoin, almost all the other cryptocurrencies have been left out of this technological advancement. However, this situation is likely to change, thanks in part to Lite.im. Although the service is yet to go live, it is expected to become a game-changer once it does.
How Will It Work?
From its concept, it is quite evident that Lite.im will be seeking to serve a single purpose. And this purpose involves introducing Litecoin SMS payments to as many cryptocurrency users as possible. It is something that is bound to bring about serious changes as we head into the future.
From a mere look of its concept, it means that anyone will be able to send and receive Litecoin payments using their mobile phones from any part of the world. In essence, users will not need to use the internet to transact, and this is definitely an encouraging sign.
On the technical side, platform users will be able to send messages to each other through Telegram or SMS. The team made a smart decision to cater to both markets, as not everyone has ready access to the internet, even today. Users will be able to enjoy numerous functionalities such as receiving transactions and checking balances.
As is the case with all new services and technologies, one cannot help but wonder how the platform intends to handle the private keys. The good news is that Lite.im will not in any way store this information. This means that only the users will have access to this crucial information. It is something that is aimed at heightening platform security.
This is an important aspect of this service, as the payment service has to be trustless for it to work, and for it to be adopted by the users. With time, Lite.im may end up becoming a very powerful service, provided it is able to convince its users to adopt this new service.
The Road Ahead
Users who are interested in this service can pre-register for the yet to be released SMS version or test the Telegram version, which is already available. The developers have also made the code available on GitHub, which is a clear indication that they want to make this project as transparent as they can.