- Litecoin is launching LitVM, the primary zero-knowledge layer 2 chain with EVM compatibility.
- LITVM permits sensible contracts, tokenized belongings, and Defi on the LiteCoin community.
- The Litecoin Basis favors LITVM and marks a shift in the direction of programmerism and cross-chain use.
Litecoin has entered the Layer-2 growth house with the launch of LitVM, a brand new zero-recognition rollup chain aimed toward increasing the capabilities of its community nearly 14 years in the past. The announcement was made throughout the Litecoin summit in Las Vegas and illustrates main steps in the direction of supporting sensible contracts, distributed finance (DEFI), and cross-chain interoperability.
Developed by Lunar Digital Property utilizing Bitcoinos and the Polygon CDK, LITVM brings sensible contract performance to Litecoin for the primary time. The chain is absolutely suitable with Ethereum Digital Machine (EVM) and permits builders to construct distributed purposes (DAPPs) utilizing native Litecoin belongings.
In line with the announcement, the combination additionally helps tokenized real-world belongings (RWAS), Stablecoin infrastructure, and cultural tokens akin to Runes and Lordinals.
Edan Yago, head of Litecoin ZK Improvement, launched the Layer 2 resolution on the summit. Yago described LITVM because the “first true ZK rollup” inside the UTXO transaction mannequin. Traditionally targeted on velocity and ease, Litecoin now helps programmable options whereas sustaining its authentic safety priorities.
Layer 2 structure and interoperability options
The LITVM format contains entry to Agglayer’s cross-chain liquidity, permitting for unreliable bridging and time-locked tokenized asset help. In line with Roc Zacharias, CEO of Lunar Digital Property, the shift has put Litecoin alongside a wider layer 2 pattern throughout the foremost blockchain. He identified that Bitcoin and Ethereum Layer 2 options at present maintain a complete worth lock (TVL) of over $12 billion.
Zacharias added that Litecoin continues to see widespread world utilization, with LITVM aiming to supply token-based utilities and liquidity infrastructure in a configurable means. The brand new Layer-2 platform is designed to fulfill the rising curiosity of builders constructing on a Litecoin community utilizing acquainted sensible contract instruments.
The Litecoin Basis has formally authorized the LITVM initiative. In an announcement, the group famous that the launch responds to years of requests from the developer group for extra programmable options.
Litecoin founder Charlie Lee ensured that the core values of our safety and reliability community stay the identical. Lee mentioned LITVM will introduce a brand new part of Litecoin and add programmable options whereas sustaining the fundamental rules.
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