March 6, 2023
Tron (TRX)
Tron is a proof of stake cryptocurrency that has been built on the Tron blockchain network.
Bright Ideas: Litecoin (LTC)
Litecoin was one of the first competitors to Bitcoin, established in 2011 providing a similar but more efficient decentralized payments system
Price:
$96.51
Mkt Cap:
$7,161,515,370
View Coin Page
Project Fundamentals
- Like Bitcoin, Litecoin uses a Proof of Work consensus mechanism. However, Litecoin does not use Bitcoin’s hashing function SHA-256, instead using Scrypt which initially made Litecoin mining more accessible.
- The maximum supply of Litecoin is 84 million with only a proportion of which currently in circulation.
- Bitcoin and Litecoin do not share a genesis block like other Bitcoin forks.
- Despite living in the shadow of Bitcoin it’s long track record and survival add additional strength and legitimacy to the projects core fundamentals.
Partnerships / Implementation
- Litecoin’s initial adoption was driven as a payment’s mechanism and scalable medium of exchange against Bitcoin as a store of value.
- Litecoin is now can be exchanged at 15,000 ATM’s worldwide and has reached over 50 million merchants.
- Crypto firm Changeangel.io says that they regularly pay their employees in Litecoin as it is “perfect for such tasks.”
- In December 2021 One of Tokyo’s largest financial services firm SBI Group announced it will allow investors to buy Litecoin through their crypto asset fund. This follows Australia’s Commonwealth Bank also including Litecoin in its 10 purchasable assets.
Roadmap and Announcements
- With only a limited roadmap, Litecoin’s next upgrade called “Mimblewimble,” is focused on adding greater privacy features to Litecoin. This will provide users the option to hide the sending and receiving addresses in transactions.
- Litecoin will continue to leverage its close relationship with Bitcoin and highly correlated price movements to grow with the broader market.
- In October 2021 Litecoin transactions rose to over 140,000 after the announcement of the Litecoin/Visa Debit card.
- According to Santiment large holders have continued to acquire significant amounts of Litecoin approaching the next halving.
Technical Analysis
More Bright Ideas
February 27, 2023
Polygon (MATIC)
Polygon was founded as a scaling solution for Ethereum and aims to be Ethereum’s internet of blockchains.
February 24, 2023
Fantom (FTM)
FTM powers the Fantom network, and is used for staking, on-chain governance, and as payment for network fees.
February 22, 2023
Polygon (MATIC)
Polygon was founded as a scaling solution for Ethereum and aims to be Ethereum’s internet of blockchains.
February 21, 2023
Cosmos (ATOM)
Cosmos is an interoperability platform operating as a “decentralised network of independent parallel blockchains"
February 20, 2023
Bitcoin (BTC)
Bitcoin is synonymous with cryptocurrency itself and has always been the largest by market capitalisation.
