Litecoin introduces Smart Contracts with a new Layer 2 network

With the introduction of LITVM, a newly introduced Layer 2 network, which extends the long-term cryptocurrency with Smart Contract functions, makes a big leap into the world of Defi and Web3.

The LitVM project was presented at the Litecoin Summit in Las Vegas and is promoted by Lunar Digital Assets in cooperation with the Litecoin Foundation.

The network was developed with Bitcoinos and the Chain Development Kit (CDK) from Polygon, is compatible with the Ethereum Virtual Machine (EVM) and uses Zero-Knowledge-Proof technology to enable safe and trustworthy interactions.

This marks a significant change for Litecoin, which has traditionally focused on speed and simplicity for everyday payments since its foundation in 2011. With LITVM, the network is expanding its benefits to support programmable applications, cross -chain cross -chain assets and more complex financial products.

Litecoin inventor Charlie Lee emphasized that the project continues to be based on the principles that the blockchain has marked for over a decade-security and reliability-while it finally opens the door to modern applications of blockchain such as smart contracts.

Litvm is intended to open up a new dimension of possibilities to the Litecoin ecosystem. His introduction could pave the way for the tokenization of real assets, stable coin-based payments and native on-chain innovations such as Runes and Lordinals-functions that were previously outside the technical scope of Litecoin.

With the entry into the Layer 2 area, Litecoin positions itself in such a way that it can develop together with more advanced networks and offer access to a growing range of decentralized financial tools.

Alexander has been working in the crypto industry for three years and has made a name for himself during this time through his active participation in observing the market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional obligation, but a deep personal passion. He follows the news from the industry every day, analyzes trends and is enthusiastic about every new step in the development of blockchain solutions. His enthusiasm drives him to constantly learn and share his knowledge because he sees the future in the digital financial world and its role in global transformation.