LiteCoin: Little Brother, All Grown UP!

LiteCoin: Little Brother, All Grown UP!

Despite of its sudden and unexpected popularity, Blockchain industry is still in its infancy.It has a long way ahead of it in terms of coming of age in relation to technology, new key players and protocols are concerned. As they are ever changing for the better, it shall take Blockchain the technology to mature. In the midst of all the changes already occurring, a new coin or token is launched is launched almost every day. The stage may seem set but, it is an uncertain time. Hence, it falls on the trailblazers, the heroes of the story to step up and illuminate the way for the newbies.

While that is easier said than done, there are a few that have gone through a trial by fire and come out the other side with their worth in gold in the crypto market. One such is the LiteCoin. Unfortunately, it is forever to be known as the silver to Bitcoin’s gold. Now, all this is bound to change.

LiteCoin: Like Bitcoin But Different

The first true fork of Bitcoin, one can get more information about its early days here.  LiteCoin are more than four times in number than Bitcoin. While the protocols for mining are vastly different, it is one of the fundamental reasons why LiteCoin has managed to hold on to its place in the market. Unlike Satoshi Nakamoto, the founder of Bitcoin, Charlie Lee, the founder of LiteCoin has gone on a tirade and sold off all his LiteCoin. He neither holds any tokens, or LiteCoin crypto nor does he influence the digital currency in its value. While the intent behind it was to remove any doubt on ‘Conflict of Interest’ there was much debate on the same. While many considered it the ultimate betrayal, there are many who understand that by doing so, Charlie Lee has made LiteCoin truly decentralized.

See Also: Famous Bitcoin Mining Scams you Should Know About

LiteCoin Has A Debit Card: On Wirex!

Wirex is a cryptocurrency bank. It has announced the availability of LiteCoin debit cards and a wallet on its platform. Makes one wonder is there is a better way to use one’s Litecoin cryptos than in the form of a debit card. Seeing the market buzz following the announcement, Wirex tweeted: “Litecoin wallets have landed verified users around they can now buy, trade & spend #LTC Full product features, benefits, and how to get your hot little hands on one”. Furthermore, on their main site, they are quoted saying,“It’s faster than Bitcoin, has lower blockchain fees and may become a global payment option available on dozens of big brand websites in coming months”. With such positive support from its partner, we are sure to see the LiteCoin Debit card grow leaps and bounds.

Additionally, they are offering the users 3 different payment cards for their transactions. They are a virtual card, a physical card and one anonymous. With the third one, they can have contactless payments. A prepaid debit card too is in works. While this service is restricted only in Europe at the time of publishing, similar protocols are being created for the Asian crypto market.

LitePay: The Payment Processor For The Year 2018

Answering the basic question, ‘what is LitePay’, off the bat, it is a payment processor with which one can use fiat to purchase Litecoin. Needless to say, opinions on this too are divided. Many believe that it is wonderful that LiteCoin is finally gettings a platform focusing solely on LTC. but, there are many who call LitePay a currency converter of fiat to LTC and not a crypto converter or an exchange.  The group demands that LitePay must cater to all cryptocurrencies. This platform may be under a lot of debate, but one thing is sure, it makes acquiring LTC much easier. After all, it instantly converts the value of LiteCoin cryptocurrency based on the current market rate in to fiat currency. As far as its implementation in to the main market is considered, well, even hurry takes time.

Next ReadAn Ultimate Guide To Know About Bitcoin Lightning Network

A traveler who has eaten with Bedouins, gotten lost in mist, and walked a kilometer to get net connection. When not writing, Nisha reads tech magazines to shampoo bottle labels

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