Last year was great for cryptocurrencies. In fact, they had the greatest single-year performance in history. After the promising $17.7 billion market cap at the beginning of 2017, the cryptocurrency market finished 2017 with a combined market cap of $613 billion which represents an increase of the value of more than 3,000%.
Additionally, 2017 was time of dominance for the leading cryptocurrency, Bitcoin. As the first cryptocurrency with the option for trading back in March 2010, the reign of Bitcoin is what brought blockchain technology to the spotlight. Bitcoin was also bought for exchanging popular digital currencies on decentralized exchanges – but also an investment that made a lot of people rich.
Despite the surge of Bitcoin that came close to the $20,000 mark, the leading cryptocurrency is now above $10,000 in terms of value. As consistent as it has been, Bitcoin is going to shades according to some experts. The big question is – which cryptocurrency has the power to replace it?
Many fingers are pointed to Litecoin – the cryptocurrency with a massive potential out there. The truth is, as Bitcoin has grown in terms of popularity, some of its flaws have become visible. From the approval for upgrades to the open-source network vulnerabilities, Bitcoin’s flaws have caused numerous forks, creating new digital currencies in the process all while relegating Bitcoin to a slower and pricier network.
The average Bitcoin transaction takes longer than an hour to process – and the fees are around $28 – which makes it the same cost as a bank wire transfer and makes Bitcoin a poor choice for daily transactions.
Litecoin, on the other hand, is often described as “bitcoin Lite” and considered to be in cooperation and not in competition with Bitcoin. Recently, Litecoin implemented SegWit which has boosted their capacity of handling merchants and transactions and ramped the processing speeds while lowering transaction fees. Bitcoin, on the other hand, was supposed to implement the technology but couldn’t gain the needed consensus to do so.
This certainly gives an advantage to Litecoin and puts it in the spotlight for being “the best” (performance-wise) cryptocurrency out there.
What do you think?
Litecoin (LTC) Value Rebounds As The Halving Event Is Pending
Litecoin Adoption: LTC Adopted On Flexa, Spendable In 39,000 Stores
“I’m excited to see Flexa help push mainstream adoption of Litecoin payments. Being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”Litecoin can now be spent but also converted to fiat via Flexa's SPEDN application which is currently live on Apple's iOS and in testing phase on Android. This comes shortly after the Litecoin Foundation (organization behind the cryptocurrency's development and adoption) joined hands with two industry partners including Bibox Exchange and Ternio, releasing a debit card that can be "loaded" with LTC, Bibox Token and Ternio Token.
Crypto Startup Flexa Adopts Litecoin-Now Available At 39,250 Stores
“I’m excited to see Flexa help push mainstream adoption of Litecoin payments. being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”Litecoin can now be spent and converted to Fiat with the help of Flexa’s SPEDN application which is currently live on Apple iOS. The decision comes shortly after the Litecoin Foundation joined the two crypto industry partners Bibox Exchange and Ternio in order to release a debit card that can be filled with LTC. As noted in the previous latest cryptocurrency news, the Video game streaming service Twitch also started accepting subscription payments via BitPay which gives its viewers a chance to contribute to their favorite gamers with cryptocurrencies. This could be great news for litecoin but for other assets as well regarding the boost in price in the upcoming months.
Litecoin (LTC) Price Goes Up By 13% Reaching $8.18BLN In Market Cap
‘’I’m still waiting for the weekly close but if it does close anywhere above the green box/line I’ll long targeting new highs.”The latest cryptocurrency news reported that the LTC supply reduction could affect the reward that is mainly used by the miners. This could also cause a drop in the Litecoin’s blockchain hashrate since the miners start allocating the computational power to more profitable cryptocurrencies. However, Charlie Lee begs to differ. He believes that the LTC miners would still be profitable despite the rewards reduction:
“If some miners stop mining, block times go up for a while (maybe a week) before difficulty readjusts and makes mining profitable again and miners will come back. Litecoin won’t die.”
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