According to CoinMarketCap, over the past two days litecoin has risen more than 45% and after a long break again ranked fifth in the world by market capitalization with $ 12 billion. Today LTC rose to $ $230.
One of the reasons for the rapid rise in price of litecoin – awaiting the launch of the payment system Litepay. The system will be compatible with Visa, which will allow to put into circulation Liteinoye plastic cards and use the «cryptoserver» to pay for the actual purchases. Start Litepay is scheduled for February 26th.
Among the factors that led to the growth of litecoin, some experts also consider Microsoft’s plans to use a decentralized identification system (DIDs) in your Microsoft Authenticator app. Among suitable for the DID of the block chain is called Litecoin.
Growth in the value of litecoin is also associated with the upcoming hardforum. On January 19, block 1 371 111 planned to create a new altcon Litecoin Cash. Despite the similar name, it has no relation to Bitcoin Cash. Unlike Bitcoin, which is an epidemic forks with a copy of the blockchain struck six months ago, and forks had grown to more than a dozen, like a fork of LTC is performed for the first time. Litecoin Cash (LCC) there are several curious features:
In contrast to the usual accrual 1:1, LTC holders will receive 10 new coins LCC.
LCC will make a «step back» and will use a hashing algorithm to SHA256, so makers are planning to attract the owners of obsolete ASIC miners for bitcoin.
Will be implemented recalculation of difficulty after each block and stored the average time of extraction of block of 2.5 minutes.
However, podstawie from hardforum community meets each new project of this type with less enthusiasm. Litecoin and Cash has already faced severe criticism.
So, the Creator of Litecoin Charlie Lee calls all coming ppl were cheating using the name of the famous cryptocurrency (we can say that even two). The LTC team plans to participate in any hardforce or support them. This he informed in his Twitter.
The development team LCC polyanaline and there are no people, who have a reputation in the cryptocurrency community. A «project Manager» under the pseudonym Roger has decided to introduce a horse (or unicorn).
In General, the project does not inspire confidence and is unlikely to receive long-term development. Probably most new owners LCC, as usually occurred with a fork of Bitcoin, would prefer to «merge» gift coins. Although at the moment no exchange has not yet announced support for LCC. The developers promise not inspire much optimism. They promise to «reduce the fee by 90%», but the Litecoin blockchain, and so is not experiencing congestion and the fee for it is minimal. Support technologies SegWit and Lightning will get the LCC inherited from LTC. That is, all job creators in the near future is the assessment of coins and changing a few parameters of mining, but no plans for further development they have.
In light of this, LCC is likely to face the fate of the greater part of forks of bitcoin (Bitcoin Cash in addition to having significant technical and financial resources) — the popularity in the first days after the launch and subsequent slow decline. However, it still helped to grow his «dad».
To date, most of the growth factors of litecoin in the near future has already been exhausted, but a significant correction before 19 Feb to be expected.
Litecoin is gaining popularity in the darknet
But in addition to the three aforementioned growth factors LTC there is another longer-term and less obvious, risen from the depths of the «dark Internet». According to the analysts of the Agency, Recorded Future studies, litecoin after bitcoin takes the second place by popularity on the darknet markets. The reason is quite easy — when there is no load on the blockchain and inflated commissions, litecoin is not very different from bitcoin and it has quite high liquidity, which are significantly higher than only BTC and ETH.
To examine the dynamics of growth in the use of cryptocurrencies for illegal operations amid growing commissions in the bitcoin network, the researchers analyzed 150 popular services the darknet, including the ads and the marketplace.
«The rapid growth of popularity of bitcoin among individuals, speculators and institutional investors established in the middle of 2017-a huge load on the blockchain, which led to a substantial increase in transactional commissions,» the study says.
Despite the growing discontent, the first cryptocurrency as a means of payment, by the middle of 2016, the vast majority of platforms darknet accept payments in bitcoin.
The study also showed a significant increase in popularity Monero from the end of 2016. Among English-speaking platforms darknet it is used 15%.
LTC seeks the third most popular payment method among English-speaking platforms – 11%, cryptocurrency DASH and ETH belonged to 9% each.
In the Eastern European platforms litecoin is considered the second most popular means of payment, and 35% in dark markets has introduced the LTC payments. Third place goes to DASH – 24%, then BCH – 15%, ETH – 9%, ZEC 4% or XMR – 3%.