Litecoin smart contracts, DAOs, tokenized assets, and NFTs are here!
The Litecoin Foundation, a non-profit organization headquartered in Singapore and supporting the Litecoin ecosystem, introduces smart contracts, DAO, and tokenization to create ‘OmniLite’, a decentralized token creation platform that is being hailed as an ‘Ethereum killer’. Just announced the release of . Adds assets and NFT functionality to the Litecoin network.
“OmniLite is an open source platform that facilitates the creation of decentralized tokens and smart contracts, along with crypto assets such as tokens and NFTs. A layered protocol built on top of Litecoin’s blockchain, OmniLite leverages reputable network security .Tokens created through OmniLite can be considered an extension of Litecoin and consequently transactions of these tokens are recorded on the blockchain.As a result, all digital assets created through OmniLite benefit from the network advantages that Litecoin has. . recommend.”
OmniLite can also facilitate the issuance of stablecoins such as Tether (USDT) on top of Litecoin. Considering Craig Sellers, co-founder of Tether and member of the Omni Foundation, this could actually happen. Congratulations on the team’s launch. Jay Milla, Group Marketing Director, commented on the announcement:
“Over the years, the fast-growing and ever-evolving cryptocurrency industry has become a hub of opportunity for builders around the world. Litecoin, considered one of the most enduring cryptocurrencies of the past decade, is a prime example of these aspirations. Modify and innovate. .
With Litecoin’s minimal fees, ten years of persistence, and 100% network uptime, it was only a matter of time before the opportunity to build assets on top of the Litecoin ecosystem. Thank you to Litecoin developers for their hard work Roshan And for the Litecoin Foundation, using OmniLite, creating on top of the Litecoin network is now much easier.”
While other networks such as Bitcoin and Ethereum are experiencing saturation issues, developers may want to take advantage of the much cheaper transaction costs and security that Litecoin offers. Thanks to OmniLite, building a layered economy on top of Litecoin is easier than ever.
Currently, OmniLite supports wallet mode (Litecoin Omni) and is available on three platforms: Windows, Linux, and MacOS.
