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Blog

Date:
22nd Dec 2020
Author:
CryptoAltum Research Team

PayPal, Hash Rate Dominance, and Privacy are Litecoin's Value Proposition


Charlie Lee, the co-founder of Litecoin, has listed PayPal, its dominance in Scrypt hash rate, low transaction fees, their decision to integrate privacy solutions, and their high reliability as some of the network's main value proposition. Among other coins, Litecoin has posted impressive gains, mirroring Bitcoin in the last few months.


Details: 

Litecoin is Bitcoin's silver. Their prices are positively correlated, explaining why Litecoin, in the past few weeks, has gained, rallying above $100. With the LTC/USD price above $100, Charlie Lee now says Litecoin is worthy because of their low transaction fees, investment from institutions via Grayscale Litecoin Trusts, plans of MimbleWimble for privacy, their high uptime, and others. Tapping on Litecoin's low transaction fees, Atariā€”a gaming giant, is already using Litecoin as a means of payment. Developers are also constantly working on improving their code after a lull of late 2018 and the better part of 2019 as GitHub activity shows.


Impact on LTC Price: 

Neutral to Bullish. Bitcoin performance presents an opportunity for Litecoin. Follow-throughs, such as the eventual introduction of privacy in the high throughput complementary platform could support LTC prices.


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