Lunar Digital Assets has officially announced LitVM, a new Layer-2 network based on zero-knowledge proofs that will bring smart contract support to the Litecoin ecosystem.
The announcement was made at the Litecoin Summit event held in Las Vegas.
LitVM, built on BitcoinOS and Polygon CDK infrastructure, is also supported by the Litecoin Foundation. This new Layer-2 solution, which is EVM compatible, draws attention with its trustless structure and aims to bring cross-chain liquidity to Litecoin with smart contract functionality for the first time.
Launched in 2011, the Litecoin network has so far focused on speed and simplicity in daily transactions. However, with LitVM, this classic approach is changing to integrate into the modern DeFi and Web3 world.
Litecoin founder Charlie Lee made the following statement on the subject:
“Security and reliability have been our top priorities since we created Litecoin in 2011. This new Layer-2 solution preserves these principles while bringing Litecoin into the smart contract era.”
According to their own statements, LitVM offers the potential not only for technical development but also for cultural and financial expansion. Thanks to the new network, tokenized real-world assets (RWA), stablecoin-based payment systems, and on-chain assets such as Runes and Lordinals will become possible on the Litecoin network.
*This is not investment advice.
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