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Litecoin-Backed Asset Listed on Binance DEX

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  • Vladislav Sopov
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    Litecoin is mirrored on the Binance DEX by LTC-F07 (LTC BEP2) asset seven days after Binance's CEO proposal. LTC/BNB trading is open.

Litecoin-Backed Asset Listed on Binance DEX
Cover image via www.binance.org

Since November 6, 2019, Litecoin/Binance (LTC/BNB) trading has been available on the Binance DEX, including the freshly issued asset called LTC-F07. As of now, 18,500 tokens have been released for trading.

New Markets For Blockchain Silver

In the new listing proposal, Binance CEO Changpeng Zhao explained the potential of LTC trading on the Binance DEX:

"LTC is decentralized money, free from censorship and open to all. The Litecoin blockchain is the largest global scrypt based network, operating with 100% uptime since 2011 securing billions of dollars of value"

Changpeng Zhao also highlighted LTC's contribution to blockchain progress, specifically the Lightning Network and Atomic Swaps. 

As a new asset, LTC-F07 is mintable, and the total supply will increase with market demand. All of the issued LTC-F07 will be backed 1:1 by a native LTC, in which the accuracy of this connection will be monitored by an initial verified LTC address

The Binance DEX is a side-project of Binance, the world largest cryptocurrency exchange. It operates on the native Binance Chain, and supports non-custodial peer-to-peer trading of 130+ assets. Some of major cryptocurrencies (Bitcoin and Bitcoin Cash), as well as numerous stablecoins, have their "mirrors" on the Binance Chain which are actually tokens of the native Binance BEP2 standard.

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Ripple's Partner Wants to Transform Gaming Industry with XRP

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  • Alex Dovbnya
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    Forte reveals the benefits of using Ripple's XRP for creating digital economies

Ripple's Partner Wants to Transform Gaming Industry with XRP
Cover image via u.today
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San Francisco-based company Forte, which formed a $100 mln fund in partnership with Ripple's investment arm Xpring back in March, keeps working on applying the blockchain technology in gaming.

Recently, Forte co-founder Brett Seyler explained the benefits of using XRP.  

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Blockchain-based gaming economies  

Forte is helmed by top-tier industry executives (including its founding CEO Kevin Chou) who are not focused on creating new powerful economies within the $140 bln gaming while making it more decentralized. 

There have been multiple attempts at creating a killer gaming dApp, but the technology is still way too cumbersome for the average Joe. Forte wants to address the adoption problem by making such games more approachable.       

“Creating game economies with multi-sided participation, open markets and increased transparency offer a potent solution to the challenge of the complexity plaguing game developers that result in stagnant economy design,” said Seyler.  

Blockchain is a perfect tool for creating peer-to-peer gaming economies since it could make in-game transactions easy, fast, and transparent.       

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The impact of XRP  

In order to make the magic happen, Forte utilizes the Interledger protocol (ILP) that was created by former Ripple CTO Stephan Thomas for establishing connections between multiple blockchains. 

On top of that, the startup also uses XRP for increasing the level of interoperability as well as security and liquidity.  

Since its inception, Xpring invested more than $500 mln in around 20 companies to streamline the adoption of XRP.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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