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Litecoin Struggles to Get Back in the Game

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Litecoin

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

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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