Things are looking quite good for the Litecoin ecosystem right now. It appears some new developments are on the horizon. That is great news for anyone involved in Litecoin. It will be interesting to see how this will affect the LTC price moving forward. An accelerated rate of development will do wonders for Litecoin, that much is evident.

BitGo, the world’s leading multi-signature technology service provider, now supports Litecoin. For the longest time, BitGo only supported Bitcoin, hence the company name. Now that Litecoin is also supported, things will get very interesting moving forward. BitGo is in the process of providing security services for Litecoin and its related service providers. This is quite good news for anyone involved in Litecoin, to say the least.

BitGo Is Developing Secure Litecoin Solutions

Considering how BitGo processes large amounts of Bitcoin transactions, it is expected they will do the same for Litecoin. More specifically, Bitcoin has been able to grow thanks to companies such as BitGO. It is certainly possible Litecoin will move in the same direction. A lot of exchanges rely on their services, and enabling LTC support will certainly help in this regard. A lot of exchanges have Litecoin trading enabled, and secure solutions are always in high demand.

Moreover, there is the recent news of Charlie Lee leaving Coinbase. Lee will now focus on Litecoin development full-time. That is a major development for Litecoin as well, even though it remains to be seen what he is working on. Bitstamp has also – finally – enabled LTC trading after a very long wait. The company integrated BitGo’s Litecoin multisig security solution as well. Things are slowly falling into place for the LTC ecosystem, that much is evident.

One thing is certain: a lot of people feel Litecoin could be the dark horse in cryptocurrency right now. More specifically, Bitcoin could see a chain split on August 1st. Ethereum has scaling issues and a clogged up network. Litecoin has the scaling solution most Bitcoin users want in the first place. This will not necessarily warrant an LTC price explosion all of a sudden. Then again, Litecoin is slowly regaining its market position, and things are looking very positive for the future.

Header image courtesy of Shutterstock