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Litecoin News

Litecoin Foundation Partners With Software Development Firm Beam, LTC Rises By 30%



The Litecoin Foundation has officially partnered with the software development company Beam in order to work together for the implementation of the new protocol that would improve scalability and privacy, according to the crypto news reports coming from Beam’s Medium blog post.

The new protocol named ‘’Mimblewimble’’ which is inspired from the popular Harry Potter novels and is basically a made-up curse word is being tested for the scalability solutions. The blog post states:

 “We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa. Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.”

The Litecoin Foundation also posted on their blog post where it says that ‘’Mimblewimble’’ is a part of the ‘’Confidential Transactions’’ that will allow transactions to be verifiable but also ‘’obfuscated’’ in order to achieve enhanced privacy and to prevent double spending.

The news about the partnership had affected the price of Litecoin which made it increase up to 30 percent, overtaking EOS and Bitcoin Cash. If we take a look at the performance these past days, the altcoin traded somewhere around $30 and $34 for the bigger part of January.

Charlie Lee, the creator of Litecoin, tweeted that the ‘’fungibility’’ is the only property missing from Bitcoin and Litecoin so that will be the new battleground for the altcoin. He revealed that the foundation will be focused on implementing Confidential Transactions.

Altcoins were designed so they can provide privacy and will always focus on maximizing it. One of the most privacy-oriented coins out there is Monero, Dash and Zcash.

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Altcoin News

Top Cryptocurrencies See Green, Ending Week With A Positive Action

In the latest news covering cryptocurrencies on our DC Forecasts crypto news site, we are seeing gentle greens and mild price action that affected all of the top 20 cryptocurrencies, seeing fluctuations of within 2 percents in both directions on the day. Bitcoin is obviously in the focus with a 0.37% growth on the day and a current price of $3,631. On the weekly chard, Bitcoin has managed to suffer a loss of a couple percent. On the month, the coin has seen virtually no movement trading down by a mild 0.8% in value. Ethereum, on the other hand, is holding onto its newly regained position as the second largest cryptocurrency and the biggest altcoin by market cap out there. ETH is currently on the rise with 1% on the day, trading at roughly $123 to press time. On the month, Ethereum is stable and trading at virtually the same price point (only 0.4% down) as in mid-January. Ripple (XRP) is also seeing no price changes on the day and is trading around $0.301 at press time, up by a fractional 0.5% over the past 24 hours and down a mild 2% on the week. The monthly losses are bigger and coming at close to 9%. A major exception among all of the top 20 coins is Litecoin which has seen a 4% growth and is now trading at $43.83. EOS is also rising by a solid 2.4%, summing up the list of altcoins that see discernible growth during this month.
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Altcoin News

Major American Wholesaler H&M To Start Accepting BTC,ETH and LTC

Not only the major American wholesaler but worldwide popular H&M distributors Inc will officially start accepting cryptocurrencies such as Bitcoin, Ethereum and Litecoin as a method of payment so we are about to find out more in our altcoin news today. H&M distributors are not to be confused with the Swedish retail brand Hennes & Mauritz, announced their partnership with the crypto e-commerce platform Champion that will enable the company to accept cryptocurrencies as a method of payment. Despite the ones mentioned above, the company will also accept Dash, Bitcoin Cash and Bitcoin Diamond. The company was first established in 1997 in Nevada, United States, and it’s one of the best suppliers of lamp holders, replacement ballasts and lamp holder accessories. The company has joined the crypto bandwagon in order to provide faster international settlements and reduce fees. The founder of the company Herb Needham said:
 “After more than 20 years in the business, we consider ourselves experts in specialty lighting, Accepting cryptocurrency payments allows us to share that expertise with even more clients by removing many of the barriers that made it difficult to sell internationally before. What sold us was the settlement system, which allows us to convert crypto payments to a USD equivalent right away.”
According to the company’s press release, all of the advantages of cryptocurrencies are highlighted including faster settlement times and lower transaction fees but also freedom from chargeback because of the immutable nature of cryptocurrencies. What is interesting is the fact that the company will also use Bitcoin Diamond (BCD) despite not being widely adopted.
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Litecoin News

Crypto Payments Platform CoinGate Begins Its Lighting Network Trial With Litecoin (LTC)

In the latest digital currency news, we are focusing on the crypto payments platform Coingate and its new integration of the Lighting Network on Litecoin (LTC) in order to boost the cryptocurrency payments. As the marketing manager at Coingate Veronika Mishura said, the company does up to 10% of its monthly volume via Litecoin. On top of that, they believe that integrating Litecoin's Lighting Network (which by the way has more than 100 nodes now) will increase the incentive to use cryptocurrency due to its reduction in fees. As Mishura said in an interview:
"VPNs are to be honest one of the most frequently used services by crypto-enthusiasts (what we see by our data). However, due to quite low price, it is usually a no-win to pay for it with Bitcoin or Litecoin; and that’s exactly what Lightning should solve. That’s what we are trying to showcase – paying even for low-priced products should be possible, convenient, and cheap using cryptocurrency."
The first merchant to use the LN on Litecoin will be Surfshark which is a VPN provider. According to Mishura, hopefully all of the 4,500 of their merchants will be interested in integrating LN in order to reduce the friction on both sides. Meanwhile, CoinGate enables businesses to accept all major cryptocurrencies and many altcoins. The fee at the exchange is 1% and clients can choose from BTC to dollars or Euros as their designated payout.
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Altcoin News

United States: Presidential Candidate Tulsi Gabbard Bought Crypto At Peak

The presidential candidate and US Congresswoman Tulsi Gabbard of Hawaii is in the Bitcoin news today. While on her mission to become president of the United States in 2020, Gabbard showed her interest in cryptocurrencies. In fact, several federal filings proved that Gabbard bought cryptocurrencies at the height of the bull market (in December 2017). She confirmed this in an interview on January 12th, stating:
“There are a lot of challenges that are facing the American people…that I want to help solve.”
Gabbard also added that her main concern is to make sure that the US does not continue to intervene in ongoing conflicts in the Middle East. Aside from this, her other priorities include climate change, healthcare and criminal justice reform. According to some reports, Gabbard bought $1,001 to $15,000 of Ethereum and Litecoin in the bull market, when the Bitcoin price soared to a record high of $19,500. It is unclear how much crypto the presidential candidate currently holds though. However, this is still positive news for the crypto market in the United States. According to analysts, a presidential candidate with a strong will for crypto is a good sign to wider adoption. Gabbard is not the only one with such interest, however. The congressmen Darren Soto (Democrat-Florida) and Ted Budd (Republican-North Carolina) in December last year also said that the country must "nurture the profound potential of crypto" in order to stimulate the economy.
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