Litecoin (LTC): Project Review, Recent Developments, Future Events, Community
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The popular Bitcoin alternative, Litecoin (LTC), is pulling a comeback after years of falling out of favor with investors. Litecoin has now become one of the market leaders in payment and adoption, facilitating over $1 trillion worth of transactions. To further build on its adoption, the Litecoin Foundation has partnered with Mastercard to launch a Litecoin Card in Europe and the U.K. The recent surge in the use of Litecoin has positively affected the price of LTC, and it has gained over 41% this year to trade above $100. Project Review Litecoin was born as a result of some flaws inherent in Bitcoin, the first released crypto, most notably its slow transaction processing. Litecoin was created by Charlie Lee and launched in 2011 as a "better alternative" to Bitcoin. Although Litecoin is based on the Bitcoin protocol, it offers a better transaction processing speed of up to 54 TPS, which is significantly higher than Bitcoin's transaction processing speed of 5 TPS. At its peak, Litecoin was the second largest crypto until September 2013 and stayed in the top seven all the way to July 2020. However, a shift in focus to decentralize protocols and a dwindling community saw Litecoin's dominance fade. However, Litecoin is pulling a comeback, growing at a rapid rate. Its native crypto, LTC, which is solely used for transactions, has seen increased usage in recent times. So, what is behind the comeback story of Litecoin? Social Media: Website | Twitter | GitHub | Facebook | Telegram | Reddit Recent Developments and Future Events Litecoin's seeming resurgence can be traced to increasing talks of its halving event entering into 2023. Happening every four years, Litecoin's halving is an event that "halves” the volume of LTC rewarded to miners. Like Bitcoin halving, Litecoin's halvings are usually accompanied by significant price movements, thus raising interest from investors. The community played an important role, promoting the halving as one of the most significant events in the 2023 altcoin calendar. Litecoin has also received significant media attention this month, as the team behind the project announced it has completed more than $1 trillion in transactions, a milestone only a handful of projects can boast of. Building on the news, Litecoin is pushing to maintain a healthy adoption rate. The Litecoin foundation has announced that the Litecoin Card program is now active and available across Europe. The program is a partnership between Litecoin…Continue reading on DailyCoin.
