LIT is a Lightning Network implementation and is the original code by Tadge Dryja the co-author of the lightning network whitepaper. LIT allows multi-coin cryptocurrency interoperability, near instant and free transactions, it solves the scaling issue and gets rid of network congestion that leads to high transaction fees and slow transaction speeds, LIT is a real world solution for cryptocurrencies like Bitcoin, Vertcoin and Litecoin.
LITbox is a Vertcoin project. It’s the final piece in completing a trustless, scalable, censorship resistant, lightning enabled system that is easy to use. We’ve been playing the long game for the last four years. A multicoin, multichannel future is around the corner. A future where people will use cryptocurrency to buy groceries and where merchants accept it because of the ridiculously low fees (sorry banks). Vertcoin is driving LITbox’s revolutionary UI making it accessible to everyday users, merchants and even their parents (that’s right baby boomers we’ve thought of you too).
LITbox exists because Lightning Network is an interactive protocol, without something like LITbox you'd have to trust a 3rd party which defeats the point of cryptocurrency. It would be the first software to create a full-stack crypto payment environment. The holy grail.
Vertcoin runs as close as possible to Cryptocurrency fundamentals, the whole “be your own bank” movement that started cryptocurrency to begin with. Vertcoin is chasing something entirely different from the ICO/Premine, pump and run crew. We just want to change the financial system for the better.
tldr: Long-term consensus distribution using GPUs & leading layer two solution innovation.