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Aliant and Litecoin Filling the Gap Left by LitePay

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Aliant

Over the past few months, Litecoin has been experiencing a very torrid time, with the price not recovering as it was expected.  While there are still reasons why Litecoin has bright future, things are definitely not looking good for Litecoin at the moment. In spite of being one of the largest cryptocurrencies on the planet, and announcing recent partnerships for its expansion, Litecoin still sits at a low of $ 113.71 USD in an overall declining Cryptocurrency market with a market cap of $6,361,455,370

Recent Developments:

Litecoin recently announced that it has started integrating with Aliant, a payment system provider which works with small businesses and medium scale operations. Talks were going on from early February, with Litepay expressing interest in expanding and working with small to medium scale merchants.  This is aimed at allowing companies to access the crypto-community at large. This is not the first time however that Aliant has worked with a Cryptocurrency, with both Bitcoin and Ethereum integrating with Bitcoin and Ethereum. The merchant community, on the whole, seems to accept cryptocurrencies with open arms, as expressed by CEO Eric Brown in the following statement.

“Our merchants look to us for innovative ways to transfer money safely, securely, and cost-effectively. Cryptocurrency allows us to move money in all of these ways, while also offering consumers more payment options.”

The Aim of the Project:

The integration between Litepay and Aliant is a step in the right direction for both companies. To Aliant, this is a great way to entice small-scale traders to embrace cryptocurrencies which in turn is a sign of the increasing market adoption if cryptocurrencies among the general populous. Even though Aliant also offers options for Bitcoin and Ethereum, Litecoins low transaction fees and faster transaction fees would be more suitable for small-scale vendors such as coffee shops or food trucks.

Filling the LitePay Void:

The Litecoin Foundation has only recently come out of a disastrous predicament when the much-awaited launch of LitePay was eventually scrapped. The cancellation news of Litepay thus came as a surprise to the crypto-community which in turn generated quite a negative sentiment in the market. This was not helped by, any news sites, which quickly put the blame on the Litecoin Foundation for the failure of Litepay.  As a result, prices dropped dramatically for the next few weeks. It was not until CEO Charlie Lee addressed the situation and made things clear to Litecoin’s expansive community and development base. It should have noted that Litecoin has experienced immense success in the past, with Segwit implementation ahead of Bitcoin and the fast “Lightning network” being the major breakthrough for the Cryptocurrency.

Final thought and Predictions:

Integration between Litecoin and other payment processors is nothing new to the company. However, Aliant marks the first official company to- complete all registration requirements which were outlined by the LTC foundation.  In fact, the news of the partnership is a definite source of some positive sentiment among Litecoin users, as it reaffirms the development team’s commitment to growing the availability of LTC transactions around the world.

Since merchants and other commercial businesses are skeptical about the volatility of the Cryptocurrency market. People, who are backing the project, however, have stated that the expansion of Litecoin will have a positive impact on its price, as well as opening the door for Litecoin adoption in the general public. If all things go according to plan, Litecoin may experience an uptrend in price levels in the coming months.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pawel Biernacki via Flickr

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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Altcoins

Ready for Chaos? Swingby’s Chaos-Mainnet Launches on December 28th

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Singapore, Singapore, 9th November, 2020, // ChainWire //

Swingby is the “warp-speed” protocol for inter-blockchain swaps. It allows all DeFi users to move assets between blockchains without a trusted party. 

Today, Swingby announces its first mainnet network will be released on the 28th of December; it will bridge native Bitcoins onto Ethereum via Wrapped BTC (WBTC).

The initial bridge will enable the most liquid digital asset in the world (Bitcoin), currently valued at a $300 billion market cap, to be moved onto the Ethereum network to tap its $10b DeFi ecosystem.

“This launch will be pivotal to Swingby. After December 28th, Swingby will have a fully operational Chaos-Mainnet network which will be generating a tremendous amount of value to the world of DeFi and bringing in a large number of new users” – Yusaku Senga, CEO

Why is this big news for DeFi?

On December 28th, Swingby will be launching its first Chaos-Mainnet bridge, allowing users to easily move their bitcoins into WBTC on Ethereum without the need for a trusted party. Similarly, the bridge can be used in the opposite direction allowing WBTC-ERC20 tokens to be moved back into native BTCs.

What’s so special about it?

  1. Trustless: Swingby’s Skybridge will be the only way to trustlessly swap BTC into wrapped Bitcoin (WBTC).
  2. Simple to use: The Swingby bridge has been designed to work with standard transaction types removing the need for complex smart contract calls…
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