Today, we have great news for you: Litcoin (LTC) can be now used as collateral on the INLOCK platform!
We, at INLOCK, have always strived for providing a transparent environment for our customers, where they are able to construct their customized collateralization portfolios according to their convenience. By introducing the use of Litecoin (LTC) as collateral, we hope to make the life of our customers easier.
Litecoin was founded by a Google engineer, Charles Lee in 2011. Litecoin is also an open-source, peer-to-peer cryptocurrency, but it can handle a higher volume of transactions than Bitcoin does, thanks to its faster block generation. Moreover, it not only enables instant payments but also near-zero cost payments to anyone in the world. Litecoin uses the ‘scrypt’ proof-of-work algorithm, so calculations are way more serialized than in the case of Bitcoin, which uses the SHA-256. Last, but not least, this cryptocurrency empowers individuals to control their own finances, just like INLOCK does.
In May 2017, Litecoin became the 1st among the top 5 (by market cap) cryptocurrencies, and since then it is on the top.
On the INLOCK peer-to-peer crypto-backed lending platform, customers can manage any kind of special situation without the risk of substantial collateral loss. We are working hard in order to progress towards releasing the new features that we have promised.
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