LITEX (LXT) : All set to revolutionize micro-payments

June 3, 2018

LITEX (LXT) : All set to revolutionize micropayments

One of the major practical projected uses of Blockchain will be in the field of Mircropayments. The emergence of the blockchain protocol and cryptocurrency in the recent years is trying to solve the traditional problems associated with micro transactions or micropayments. Small amounts of transactions are unprofitable for both electronic payment system and customers due to large transaction costs.  Where as in cryptocurrencies, it is very low and do not depend on the size of the transaction. Thus, with the advent of digital currencies, users are able to make micropayments and not spend large commissions on it.

All said and done, practical usage is still very limited. Some of the factors affecting the implementation of micropayments are “the long confirmation time” and “high transaction fees” which are making cryptocurrency micropayment still a distant dream.

So what is LITEX?

LITEX is a completely decentralized payment ecosystem for cryptocurrency. Built on LTXN(LITEX Network), Litex supports instant micropayments with extreme low service charge.

In simple terms The LITEX framework does not reply on any centralized partners or processes. Both the cryptocurrency transfer and the fiat money conversion and settlement are done independently and coordinated by LTXN independent user nodes, carried out by LITEX Network (LTXN).

During this process, customers complete payment with cryptocurrency immediately ,merchants receive the priced fiat money for the service/goods rendered, without being restricted by minimum withdrawal threshold; coin purchasers also get cryptocurrencies they need at low cost, which can be used for consumption or any other purpose.

On top of solving the long confirmation time and high cost problems in cryptocurrency payment, LITEX also guarantees security of the consumers’ and merchants’ funds.

Roadmap

Listing on HADAX

LITEX was listed and trading on HADAX (https://bit.ly/2IPmmCF ) since April first week.  From the initial price range of 223 satoshi, it is currently trading at around 500 satoshi which means it has almost grown by 110%  since listing

 

LITEX on Huobi Talk

LITEX cofounder Leo Wang was featured on episode no 27 of Huobi Talk. In the program Mr. Leo shared his vision and various aspects about the LITEX Project .

You can watch the same here https://bit.ly/2GzrvtK

For more information about LITEX you can visit

http://litex.io/

http://litex.io/wp_en.pdf

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