The crypto market has continued to struggle to emerge from the slump that occurred towards the end of 2018. Since the beginning of February Litecoin (LTC) has awakened from its slump and taken a bullish run with huge gains.
The digitoken has risen from 7th to 4th position in terms of Marketcap and saw a leap gain of $4 to $44 from its initial price of $40 at the end of January.
Litecoin (LTC) Is One Of The Popular Altcoins In The Cryptospace
This increased market price has seen analysts predict great things for the coin with some believing that it could reach the $100 mark before the end of the year. Litecoin is one of the popular coins in circulation due to its transaction speed and cheap transaction fees.
In-addition Litecoin is listed on most top crypto exchanges such as coinbase, Binance and Bithumb. This has ensured that investors get easy access to trade the coin for other cryptos or with fiat currency. Furthermore, the stability of the coin could be a driving force for the recent spike in price.
Litecoin (LTC) Has Recently Revealed Plans To Update Its Blockchain Technology
Litecoin has been researching ways to improve the technology behind the blockchain platform which shows that the development team is fully behind the coin. Charles Lee the founder of Litecoin had recently announced that he was looking into increasing the privacy and fungibility of the platform.
The research according to Lee is already in an advanced stage and has become a major talking point within the crypto community. Many are of the opinion that the inclusion of confidential transactions within the network is a good step in the right direction for the platform.
In his elucidation, Charlie Lee, during the 13th episode of Magical Crypto Friends, hammered on the relevance of fungibility and security maintaining that they are the next phase in the history of Litecoin.
“So, fungibility basically means that each unit of the coin or money whatever it is is indistinguishable and cannot be discriminated against,” Lee said, adding that “Right, so if you, for example, I like give you go to a store and need to pay like $5 for a cup of coffee and you pick up a $20 bill from there from wallet you don’t really care which one you take out it they’re exactly the same to the recipient.”
“so, the coins that you spend are not fungible so a lot of times even myself when I’m spending coins I have to like decide which output to you use right if I just buy the coins for an exchange I may not know may not want someone to know how many coins I have or link to my other coins and I choose an output that came from somewhere else”
Security has always been a major issue when it comes to decentralized platforms and it remains to be seen if this new development takes care of those lingering problems.
Litecoin (LTC) Set To Benefit As Bittrefill Enables Payment On Tinder
One of the biggest news announced this past valentine day (Feb 14) was that Bittrefill was enabling users to make purchases on dating app Tinder using cryptocurrencies. The five cryptocurrencies affected includes Bitcoin (BTC), Ethereum (ETH), Dash, Dogecoin (DOGE) and Litecoin (LTC).
This is a big development for Litecoin as hodlers would be able to make payments on premium subscription on the online dating app. Tinder has over 50 million users and provides a ready platform for Litecoin to grow towards adoption.