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Litecoin Struggles to Get Back in the Game

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Lately, the cryptocurrency markets have been through a lot of turbulence. Bitcoin Prices have dipped further than expected and altcoins were hit badly with the recent hacking incidents associated with Verge and Bitcoin Gold. Now that this week the market is on its way to recovery, crypto enthusiasts are eyeing top-5 crypto for their performances and to decide which one is the safest bet to make under the present conditions. One such cryptocurrency is Litecoin that’s currently making its way towards recovery signifying that it’s still not too late to invest in Litecoin. In this article, we shall discuss what Litecoin has been up to and why it’ll always be one of the advantageous crypto investments.

Release Candidate of Litecoin core v0.16

Back on 21st May, Litecoin announced Litecoin core v0.16.0 release candidate which was its major release after a long time. It includes new features, several bugfixes to improve and enhance performance and translations update etc. this version was released as a recommended upgrade so that every user can benefit from the newly developed features such as;

Full Segwit Wallet Support

The latest core release introduces complete segwit support in the wallet for the user interface.

Bech32 Address Support

The v.0.16 release candidate also has support for native segwit addresses (Bech32). Means the ability to send to Bech32 addresses and generating such addresses has been included in the new release candidate.

SHA256 Assembly Enabled by Default

SHA256 hashing algorithm was enabled for enhancing performance and increasing the speed up to 50%.

Advancements of PayWithLitecoin

PayWithLitecoin movement has been making progress since the day it was first announced and now it has reached adoption into the mainstream. The reason behind its incessant progress lies in the fact that it has gained the attention of various small businesses. These businesses are signing up to accept Litecoin as a mode of payment and benefit from it. PayWithLitecoin is basically a well-planned marketing strategy that rewards both parties. PayWithLitecoin reached a significant milestone when iPayment Inc. which is a renowned payment processing solution provider having almost 137,000 companies and businesses under its portfolio opened up to Litecoin payments in partnership with Aliant payment. This partnership with iPayment and Aliant payment has paved a secure path to Litecoin payments by giving merchants an opportunity to accept crypto.

Litecoin Resistant to Attacks Similar to Bitcoin Gold

The hacking incidents which shook cryptocurrency markets have caused great damage and have subsided after a week. Currently, every crypto trader, investor and cryptocurrency enthusiast is looking for more secure projects to turn to. Under such conditions, Charlie Lee aka the founder of Litecoin has commented that contrary to Bitcoin Gold that was attacked by a mining hack, Litecoin mining algorithms are too strong and doesn’t let such hacking attempts become successful. In short, the complexity of Litecoin mining algorithm makes it mining hack resistant.

Why Invest in Litecoin (LTC)?

Although crypto enthusiasts are well aware of Litecoin’s previous disappointing market performance still it doesn’t mean that Litecoin project is dead and there are no possibilities left regarding the future. Litecoin has immense potential to lead altcoins by the hand. It’s a matter of time when Litecoin gets real with its mainstream adoption and partnership with tech giants. Litecoin has always been preferred than Bitcoin in terms of performance, speed and lower transaction fee. Analysts presume this is a good chance to invest in Litecoin.

Market Position

According to the latest data on coinmarketcap, Litecoin is ranked as the 6th largest cryptocurrency of the world. The total market capitalization of Litecoin as per the time of writing is close to $6.7 billion USD. The individual price of Litecoin is approximately $118.65 which is rising at the rate of 0.73%. Almost $253 million USD worth of Litecoin has exchanged hands within the last 24 hours.

Final thoughts

It may not be over for Litecoin just yet, even though crypto markets are suffering from negative sentiments in each sector and scrutinized for its unsafe and unpredictable nature, it won’t be long when things fall in their respective place and the top 10 cryptos, as well as the altcoins, prove their worth. Litecoin is gradually progressing towards its milestone and it’ll be quite a show watching what it can do to make it happen.

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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