"Litecoin is the sidechain of Bitcoin", according to Charlie Lee

Charlie Lee, the founder of Litecoin (LTC) believes that the Lightning Network can use the LTC as sidechain Bitcoin through atomic swaps. In this way, transfers become faster, cheaper and safer.

Litecoin as sidechain of Bitcoin

"The atomic swap of the LN makes Litecoin the sidechain of Bitcoin, but with a much better security thanks to the decentralized exploitation of the proofs of work (PoW) compared to the federated exploitation / merger of the sidechains. Value can move seamlessly from one channel to another to take advantage of LTC's speed and competitiveness in Blockchain transactions, "said Lee.

https://twitter.com/SatoshiLite/status/1028653142802460673

Atomic swaps eliminate the intervention of third parties

The transaction is only carried out with a seller, a buyer and a trusted intermediary such as Coinbase or Binance . However, atomic swaps can establish an inter-channel exchange without the intervention of a third party.

Using fixed time hash contracts ( HTLC) , atomics swaps ensure that both parties meet their commitments once the transaction is submitted to the Blockchain.

In order to free the crypto-currencies exchanged, the seller and the buyer need a key, it is a proof of payment. Real-time transactions are achievable within the Lightning Network through payment channels. They eliminate the delays of the Bitcoin Blockchain and deposit intermediaries.

In addition, the Blockchain network exchanging digital currencies in an atomic way eliminates trading risks on centralized platforms. The latter are rather vulnerable to hacker attacks and failures.

The Ethereum development team also uses Plasma to address the scalability and speed of crypto-currencies.

What do you think of Litecoin as a Bitcoin sidechain? Let us know in the comments section below.

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