Litecoin has yet again shown propensity with stable assets and it has been the best performing coin in February. The recent publicity might not have boosted the prices to record peaks but in a dramatic month of shakedowns and rectifications, Litecoin emerged to be an extremely stable asset.
It overpowered the pack of other coins and currencies in terms of performance. There was a point when LTC doubled in value compared to BTC but is slowly drifting off again.
Marc Jacobs a Twitter user tweeted addressing Starbucks,
“Hopefully you will let me buy coffee with Litecoins soon because coffee tastes the best when bought with LTC.”
Litecoin recently released a new core version with minor updates and improvements. Some of the important updates include block discovery and node resources which prevents accidental forking. This works by identifying competing blocks.
Other changes include disabling of competing wallets which means users cannot open copies of the same wallet at the same time. The most important change is reducing transaction fee to the minimum possible value. The team is already busy working on the next update version 0.16 which will bring down the transaction fee to as low as 0.0001 LTC/kb.
Liam, another Twitter user, and Litecoin enthusiast commented,
“Litecoin Core” -any version- is the #Litecoin Project software. After running for the first time it will sync the entire LTC blockchain. It is also a wallet. Now that you got the whole blockchain downloaded, you do not need third party servers to validate your transactions.”
Litecoin experienced a dramatic increase from $87 on the 7th of December 2017 all the way to an all-time high of $375 on the 19th of December. It has since then consolidated like all other token and is currently priced at $209.67.
Charlie Lee, Litecoin creator along with the community is involved in promoting the usage and technology of cryptocurrencies. The recent tweet by Charlie Lee about NANO had positive effects on the price. NANO continued to grow adding up to 6% to the existing value.
Nimbus, a product token/ cryptocurrency platform for small businesses to sell and trade goods and services was previously available only for Ethereum wallets compatible with ERC-20 custom Ethereum tokens. It now accepts Litecoin also.
LTC is about to become more convenient and lucrative with the introduction of Litepay. It is developed using multi-sig technology and features all the SegWit wallet features which are rated the best so far. It is safe from hackers as it is secured using BitGo and what’s better is it runs on all major desktops and browsers.
At a speaking event recently, Tyler Winklevoss, a Facebook pioneer, and a Bitcoin billionaire took this point to a logical conclusion stating,
“Litecoin is basically one big beta test for potential bitcoin features rather than an end in and of itself.”
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