In a tweet on Thursday, Charlie Lee, the creator of Litecoin, the 7th largest cryptocurrency by market capitalization, spread the word about a new service that lets users make litecoin transactions to each other via the popular messaging app Telegram.
Lee pointed out that “a bear market is the best time for people to work on adoption,” and praised the team at the startup Zulu Republic for their work.
Based in Zug, Switzerland – known as Europe’s “Crypto Valley” – Zulu Republic wrote in a blog post that they built the new Telegram-based Litecoin wallet to help realize the “founding ideals of the cryptocurrency revolution.”
The service, dubbed Lite.im, is built as a Telegram bot that users can send commands to, for example to see their balance, reveal their address to receive a payment, or sending litecoin to a litecoin address or an email address.
Originally designed to be “the silver to bitcoin’s gold” Charlie Lee’s vision for litecoin has always been to turn it into people’s preferred cryptocurrency for everyday payments with smaller transactions. As one of the earliest cryptocurrencies to be created, litecoin has also benefited from strong brand recognition and an active community for several years.
Earlier this month, Mati Greenspan, senior market analyst at the social trading platform eToro, wrote in a report that litecoin could be trading at a “massive discount to what it should be worth,” given the various initiatives on real-world adoption of the cryptocurrency.
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Author: Fredrik Vold
Image Credit: iStock/tomch