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Writer's pictureFahad H
May 20, 20193 min read

What's Next for Litecoin


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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW

Litecoin is the fifth largest cryptocurrency based mostly the market cap. The worth at $26 per coin. With the Current circulating provide at 51 million cash, and the cap for all litecoins is 84 million. The market cap is 1.three billion {dollars}, with 102 million {dollars} being the 24 hour quantity,

Miners are at the moment awarded with 25 new litecoins per block, an quantity which will get halved roughly each four years (each 840,000 blocks).

Litecoin was launched in 2011 and it’s open supply. Although it was developed to optimize the bitcoin code base, Litecoin has been criticized for a scarcity of technological improvement regardless of it constantly being within the prime 10 cryptocurrencies in line with market cap. But regardless of the criticisms prior to now, you could have observed that just lately, Litecoin has been within the crypto information for implementing what is known as Segregated Witness, or SegWit. I counsel you try the hyperlink right here for my previous video that goes into depth on what precisely SegWit is, however within the meantime I wish to clarify why Litecoin’s adoption of SegWit has helped rejuvenate it’s presence in crypto land.

If you’re aware of the Bitcoin block measurement debate, you may additionally acknowledge that SegWit is a proposal to assist treatment that scenario. Litecoin is nowhere close to the transaction volumes of Bitcoin, and doesn’t essentially must implement SegWit proper now, however whenever you couple that info with the truth that Litecoin was developed to optimize the bitcoin code base, you could start to piece issues collectively and see how Litecoin’s adoption of SegWit could be a option to show to Bitcoin that it’s a viable resolution. It’s attention-grabbing to notice that the identical mining swimming pools which can be in opposition to the bitcoin adoption of SegWit have gotten on board with the bitcoin|http://btcpeek.com/index.php?s=MyBlogK1″>litecoin adoption of the scaling resolution. Now with this adoption of SegWit, comes those that initially wished to construct their initiatives on the SegWit of Bitcoin. They can now use Litecoin as a dwell, public blockchain with which to check out their initiatives. This all results in extra of a highlight on Litecoin, at the very least, a brighter one than it’s had prior to now.

Litecoin has additionally been added to the favored change coinbase. The website that may be very specific when contemplating supporting cryptos apart from Bitcoin. They selected to assist Ethereum solely after deciding that their good contracts have been a fantastic enchancment that differentiated it sufficient from Bitcoin to deserve their assist. Now that Litecoin has adopted SegWit, this led to a rise of each worth and quantity. Because of the elevated liquidity of Litecoin- and maybe a bit attributable to the truth that the creator of Litecoin has additionally been the director of engineering at Coinbase for the previous four years- Coinbase has formally added Litecoin to it’s ranks.

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