On January 3, the Litecoin Foundation announced a partnership with BitGo – one of the largest storage service providerscryptocurrency. And although LTC holders are not required to transfer their funds to the platform, according to representatives of the fund, using BitGo services will help significantly increase the level of safety of funds.
At the moment, the company has not disclosed details of the collaboration. According to some experts, the fund will store LTC reserves in BitGo wallets.
The announcement of the Litecoin Foundation states thatThanks to the partnership, Litecoin users will be able to access multisigned addresses. Multi-signature is typically used to co-manage an account or to place escrow funds. In addition, this solution is used by customers who wish to share their private keys in order to better protect their assets and personal data.
It is worth noting that in October last yearThe BitGo platform has announced support for the Litecoin SegWit solution, which helps reduce transfer fees. However, at the moment, representatives of Litecoin have not announced plans to use SegWit.
Recall that the percentage of monthly BTC transactions using SegWit jumped to 58.18%.
Based on materialsnewslogical.com
Read this:
In Russia, it will be banned to use cryptocurrency as a means of payment
Bitcoin cannot be used to purchase goods and services in the Russian Federation
Litecoin Foundation Selects BitGo As Custody Service Provider
BitGo Launches TRON Institutional Support (TRX) in Early November
BitGo began providing castodial services to the cryptocurrency exchange Bitstamp
TOP 5 hardware devices for storing cryptocurrencies