On 9th August, Charlie Lee, the Creator and Founder of Litecoin posted on Twitter telling his followers about lite.im. Lite.im is a project by Zulu Republic, which makes SMS Payments available for the Litecoin community. Lee in his tweet wrote:
“A bear market is the best time for people to work on adoption. Check out //www.lite.im . Send and recieve LTC on telegram. Eventually, it will support SMS also. Great work @ztxrepublic team! We build it and they will come. Adoption is key!”
In the official Medium blog of Zulu Republic, it has claimed its vision to be idealistic in nature where the society realizes the revolution brought about by cryptocurrencies. To move forward on this path, the platform has enabled lite.im, which aims at bringing the cryptocurrency space closer to the people outside it.
Anyone who possesses a basic mobile phone can use this Litecoin service, as stated in the blog. This makes it feasible for Litecoin to appeal to a much wider audience than before. The service is currently available via SMS or Telegram messages. In its blog, Zulu wrote:
“With a simple Telegram or SMS message, lite.im users will be able to interact with the Litecoin blockchain, sending and receiving funds from anywhere in the world where a cellular signal can be found.”
Zulu has a backend LTC API system that will enable textual commands. This will further establish interaction between the users and the Litecoin services. Currently, only the first version of the system is available wherein LTC can be managed via Telegram.
In the Telegram version, which is the first version of this system, is featuring a Telegram bot. This bot can send commands to the users, such as checking LTC balance, track an LTC address for receiving funds, and more. The blog also read:
“…or to send Litecoin to a Litecoin or email address (sending via email address is currently available only for registered recipients).”
The lite.im design is mainly focused on keeping the privacy and security of its users as the fundamental values. Moreover, Zulu Republic does not hold control over the private keys of the users. The private keys use an encryption called RSA encryption. The service is aimed at giving users the ultimate control of their funds.
Telegram and SMS have been the chosen means for the establishment of lite.im. This is because Telegram is widely used and will increase the LTC adoption, whereas SMS will reach the strata of society where it suffices the requirements of those who possess only the basic technology.
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