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Can Litecoin (LTC) Payments Push Bitcoin Out of the Picture

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Litecoin

The last several years have been very interesting when it comes to the world of blockchain technology and cryptocurrency. One of the biggest twists, however, has yet to come, and it is indicated that it might come very soon. If it does, Litecoin might finally be able to replace Bitcoin as a payment method when it comes to crypto transactions.

Is Litecoin a superior cryptocurrency?

Despite the fact that Bitcoin is the first-ever cryptocurrency, and that is still the biggest and most popular one today, other cryptos like Litecoin have seen much when it comes to development and improvement in the areas that Bitcoin did not manage to cover properly. Not only that, but Bitcoin’s entire blockchain was carried forward by Litecoin’s efforts for years now.

Litecoin is a crypto very similar to Bitcoin in some aspects, but it works on an entirely different protocol. It was created and published in October 2011, and it was designed in a way that allows it to work as a completely pure form of digital money. It is completely decentralized, open-source, and offers extremely safe transactions, supported by cryptographic math. Despite the popular opinion, however, Litecoin was not designed to be Bitcoin’s competition.

Despite this, it might soon replace it due to several advantages. For example, it is completely self-sustainable and has a real, legitimate use case. Other than that, it offers much lower transaction fees than BTC, its mining network is more decentralized, and the time that it takes to process transactions is significantly shorter.

Litecoin can be found in various exchanges, but many would argue that the best deal can be found on GDAX and OKEX. These are also the exchanges with the highest LTC trading volume.

Litecoin’s future

When it comes to this coin’s future, experts believe that it is a bright one, and for several reasons. One of these reasons includes its founder and leader – Charlie Lee. Not only is he a very capable professional, but the very fact that the coin’s leader has a name and a face inspires trust, which is something that Bitcoin cannot match.

Apart from that, Litecoin has a superior code. It basically only modified Bitcoin’s code that allowed it to avoid the centralization of activities related to crypto mining, but this is still a large advantage for this crypto.

Due to the lack of leadership when it comes to BTC, the cryptocurrency has been a target of a lot of internal political wars, which has further damaged the coin’s stability. Litecoin doesn’t have such issues, and the coin knows where it is headed, and what it wants to achieve.

Finally, LTC is much more comfortable when it comes to adopting new tech. It is also much faster when it comes to actually do it, where Bitcoin is bound to take things slow, due to its size. It often needs entire years of infighting in order to make a decision that it can stick to.

So, despite the fact that LTC was not created to pose as Bitcoin’s competitor, replacement, or to be in any way a threat to the first crypto, it still managed to become one. Still, Bitcoin is massive and has become a synonym for cryptos, which allows it to hold its own, even with such a capable crypto standing right behind it. In theory, LTC replacing BTC might be better, but the chances that it would happen anytime soon are slim, at best.

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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.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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