Litecoin Strikes on the Fear, Uncertainty and Doubt (FUD), Looks Towards a Progressive 2019

In its latest blog, Ilir Gashi, the community manager at Litecoin Foundation tackled the FUD around Litecoin’s Github commits activity. He strikes at the …
Litecoin-Strikes-on-the-Fear-Uncertainty-and-Doubt-FUD-Looks-Towards-a-Progressive-2019

In its latest blog, Ilir Gashi, the community manager at Litecoin Foundation tackled the FUD around Litecoin’s Github commits activity. He strikes at the claims of Litecoin developments being inactive that he says are untrue.

Arguing that Github commits activity is only a small part of Github activity that doesn’t show the whole development of a project, Gashi said it doesn’t capture the

“whole code construction from start to finish; only what’s been pushed to the master branch for the main repositories,”

hence missing the writing and testing part.

Due to sharing the same clients as of Bitcoin Core, he says

“we have merged most Litecoin related commits into a few commits and when a new release of Bitcoin Core is tagged, we pull the changes from upstream and pick our commits.”

“Litecoin doesn’t need to constantly make new innovations,”

as the platform operates in open source that enables many developers and projects to work together. He points out that Litecoin has been worked on for over 7 years which is more than 98 percent of the cryptos in the market that provides it a strong foundation.

Drawing a comparison with other top cryptos, Litecoin has more activity than Bitcoin and Bitcoin Cash but falls behind Ethereum which he says is because its goal is to build developer applications and need more code for just that. However, Litecoin’s

“goal is to become a method of exchange that compliment’s Bitcoin store of a value proposition.”

Shedding a light on Litecoin’s development over the years, he shares the role Litecoin played in SegWit adoption viz. implementing SegWit itself first, Charlie Lee and “his bounty of $1MM and other Litecoin developers.”

Also, active Github commits doesn’t mean higher network security, says Gashi, rather

“the more hash rate a cryptocurrency has the higher its network security.”

Litecoin has, in fact, one of the largest hashrates in Scrypt (~180TH/s) and over 90% market share that makes it extremely secure, he further mentioned.

Furthermore, its mining network is distributed amongst many pool operators and no single entity owns over 19 percent, maintaining its decentralization.

Currently processing $500 million worth of transactions each day, it is also one of the three cryptos in the market to be listed on all major exchanges and wallets. Talking about its adoption, he says, one can pay with Litecoin at many hundreds of thousands of merchants worldwide while pushing for mainstream adoption with partners like Aliant Payments, UFC, HTC, and WEG Bank.

Moreover, they are progressing on Lightning Network front as well as they have started a collaboration with X9 developers and XSN to enable Litecoin support on Neutrino and recently accredited CoinGate as its official Litecoin Lightning Payment processor and are beginning a trial with their first selected merchant SurfSharkSecure. All of it makes it highly liquid, secure, reliable and traded in the market today.

Delving into the Litecoin’s development, moving forward in 2019, he shares a lot of developments are coming in the form of

“Litecoin Core v0.17 which reduces network transaction fees by 10x; as well as private transactions onto the Litecoin blockchain; as well as the growing adoption of the Lightning Network and Atomic Swaps.”

Coingate Launches Litecoin Lightning Network to Process LTC Payments on its Platform

The popular crypto payments platform Coingate has now integrated Litecoin’s Lightning Network (LN) into its system. This would allow users to have …
Coingate Launches Litecoin Lightning Network to Process LTC Payments on its Platform

The popular crypto payments platform Coingate has now integrated Litecoin’s Lightning Network (LN) into its system. This would allow users to have cheaper and faster payments using this new implementation.

The information about it has been released by Surgshark, a VPN provider that became one of the first companies in the market to accept Litecoin (LTC) payments using the Lightning Network. In the future, other companies could start using this scaling solution.

The Lightning Network would allow Litecoin to scale its network and allow merchants and companies to transact funds in a very easy way all over the world. This would also improve the efficiency of the network that will be able to support a larger number of transactions at a time. Back in 2018, the solution was tested by more than 4,000 merchants with very positive results.

Veronika Mishura, Marketing manager of Coingate, the Lightning Network will incentivize the use of Litecoin, among other digital assets.

On the matter, Mishura commented:

“VPNs are, to be honest, one of the most frequently used services by crypto-enthusiasts (what we see by our data). However, due to quite a low price, it is usually a no-win to pay for it with Bitcoin or Litecoin; and that’s exactly what Lightning should solve.”

In the future, there will be many other merchants accepting Litecoin payments using the Lightning Network.

Even Litecoin will soon have more than 1000 merchants accepting LN payments! 🚀 Thanks @CoinGatecom!

https://t.co/0JXvC9Xp3H

— Charlie Lee [LTC⚡] (@SatoshiLite) December 13, 2018

Although the Lightning Network is being tested and developed, there are already companies that are using it to process payments almost in real time and for very low fees.

With the LN it is possible to improve services for users and also make the Litecoin network much more efficient.

Former Olympic Wrestler Ben Askren Appreciates Litecoin [LTC] for Sponsorship Ahead of UFC 235

As most coins grapple with the January bear market blues, Litecoin is out there selling itself to the masses. Back in December last year, Litecoin …
Former Olympic Wrestler Ben Askren Appreciates Litecoin [LTC] for Sponsorship Ahead of UFC 235

As most coins grapple with the January bear market blues, Litecoin is out there selling itself to the masses. Back in December last year, Litecoin Foundation scored a win when it sponsored an Ultimate Fighting Championship (UFC) match between Jones and Gustaffson – the UFC 232 fight.

The Litecoinlogo was prominently displayed on the canvas during the match. At its peak, the pay per view event was watched by more than 2 million viewers. It seems Litecoin found a home at the UFC arena because according to an announcement by one of the UFC fighters, it is poised to sponsor him for a UFC match.

Former Olympic Wrestler Ben Askren is set to debut at the UFC ring Welterweight match against Robbie Lawler for UFC 235 and his main sponsor is Litecoin Foundation.

Ultimate Fighting ChampionshipUltimate Fighting Championship

Askren took to Twitter to express his appreciation to the Litecoin Foundation and community at large for the vote of confidence. In the 35 second video that he uploaded, he also mentioned that he was an investor in Litecoin and a big believer in Litecoin’s vision of bringing decentralization to the masses.

“What’s up Litecoin community? I just wanted to thank you for the sponsorship for UFC 235. I’m especially honored to represent you guys because you are a cause and something I believe in. Obviously, I hold a lot of Litecoin myself. I think it’s especially great when not just that I get a sponsorship, but when I get one that I believe in and that I think can help make a better future. And I think that all of you guys see that vision as well,” he said. In his tweet, he tagged Litecoin creator Charlie Lee and John Kim a Litecoin community ambassador.

Charlie Lee responded by retweeting Askren’s video message and commented that,

“I’m excited to see the community (#LTCEastCoastTeam & #LTCWestCoastTeam) come together to support @Benaskren. Litecoin Foundation takes no credit for this. Good luck in UFC 235, Ben!”

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Litecoin Fights Its Way To Mainstream Sport

According to the Litecoin foundation, there were multiple goals that they wanted to achieve from this sponsorship including driving awareness, tapping …

At the recent UFC 232, the famous UFC announcer, Bruce Buffer shouted to a sellout crowd of 15,862 people at the Los Angeles Forum, “take control of your money and pay with Litecoin!”

While the sponsorship with the UFC made history, it also provided a compelling first-hand view into the role these types of initiatives can play in driving Litecoin towards the almighty mass adoption.

Listen to the amazing @brucebuffer introducing Litecoin at @ufc 232 before the co-main event b/w @criscyborg & @Amanda_Leoa! 🚀

Tonight is about brand awareness, but the end goal is still mass adoption. UFC PayPerView discount when you #PayWithLitecoin? How about it @danawhite? pic.twitter.com/YVkJsHIuIL

— Charlie Lee [LTC⚡] (@SatoshiLite) 30 December 2018

According to the Litecoin foundation, there were multiple goals that they wanted to achieve from this sponsorship including driving awareness, tapping into the massive audience that UFC gets from around the world.

The huge milestone made in UFC 232 made it one of the biggest sporting events that was sponsored by a cryptocurrency. In addition to this, it also marked something a lot more significant as the UFC doesn’t accept partners or sponsorship from the average joe. The fact that one of the biggest sports in the world was happy to take on a cryptocurrency for the canvas of the Octagon during the event which is televised across the globe. It isn’t surprising though that the signal made quite a lot of noise across the different social media platform.

Litecoin UFC

If we take a look at an analytics report from TweetBinder, the search result for ‘Litecoin UFC’ had a significant surge with more than 40,697,646 impressions over the course of just one week which has the potential to reach 16,035,068 unique users, the result of this term or hashtag is estimated to be near $80,000 in advertising money.

This is just on Twitter alone.

According to the Litecoin Foundation, the level of activity surged from when the sponsorship was announced on the 26th to the live event on the 29th. Some of the stats are as follows:

“Total Tweets: 10,402 tweets.

Total Replies: 687 tweets.

Total Retweets: 7,327 retweets.

Total Links/pictures: 1,935 tweets.”

This is just further evidence of adoption creeping into the mainstream, maybe one-day sponsorships with cryptocurrency could be the norm?

What are your thoughts? Let us know what you think down below in the comments!

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