One of the most important discussions on Bitcoin is its long transaction times and transaction fees. Litecoin‘s founder, Charlie Lee, has begun to design a blockchain that will make payment easier by anticipating payment problems that Bitcoin may face in the future.
Lee got a job offer from Coinbase , a big San Francisco-based crypto money exchange, after he got his nickname ” SatoshiLite “. Leaving Coinbase for the past year, Lee decided to sell Litecoins, which he had in order to express his ideas more freely about the market and not seem to profit him.
Litecoin Price Today
Attention to pay issues that have been a few years after Bitcoin’s dominance seems to be shifting towards Litecoin, which is finally quietly waiting behind the recent ICO frenzy and the shadow of Bitcoin Cash experiments.
In a previous issue of Koinbülteni last week, it was mentioned that the transfer of Litecoin worth $ 99 million was sent with only a 40 cent processing fee cut off. Last February, Alca.cz , one of the biggest stores in the Czech Republic working in the EU region, announced that they will start accepting Litecoin as a payment method in the name of the Internet store that they had made via Twitter .
What’s more, the first Lightning Network transfer was through Litecoin. Zurich was transferredto San Francisco at an incredible rate of just under six seconds of 0.00000001 LTC .
Litecoin will start to be supported in Wirex
Earlier this week, Wirex, which has been offering crypto prepaid card service for a long time, has announced that Litecoin will start to be supported in its cards. Thanks to the adaptation of Wirex’s Litecoin, users will be able to spend Litecoin with the payment cards of the Blockchain companies. Users will also be able to switch to Litecoin when they are in dozens of different subcodes, making it easier for them to cash in on an ICO they have invested in or in general for their crypto money.
Wirex‘s CEO Pavel Matveev said in a statement:
“Wirex is a constantly growing platform, so it is a natural process that we add new services and crypto currencies. The extraordinary potential and vast community that Litecoin possesses increases the demands on the market in large quantities. “
In an article that the company wrote on the blog page:
“The customer surveys that we have done over the past year make Litecoin an alternative competitor to Bitcoin, a crypto currency. Litecoin is a crypto currency that has a faster , lower blockchain transaction fee than Bitcoin, and is likely to be accepted as a payment method on the website of many major brands in the global market over the coming months. “
Wirex is one of the few payment cards that offer such a service.
A tweety that Lee had laid in the past days:
“Your Details: Coinbase ‘s Shift Visa prepaid cards can be linked to any wallet in your Coinbase account. So you can use your LTC (or ETH / BCH) wallets in addition to your BTCwallet. “
TenX , another crypto card provider, had mentioned in a blog post that it had published plans to remove Litecoin prepaid cards in the future:
“In talks we’ve had with the Litecoin Foundation, we have plans to issue prepaid cards under a brand as a product of a future collaboration. We will share detailed relevant information with you in the future. “
Litecoin was misinterpreted by Charlie Lee on October 7, 2011 as a peer-to-peer crypto currency and open source via GitHub as a fork of the Bitcoin Core client. The most important differences between Bitcoin and LiteCoin are lower block creation time (2.5 minutes), increased maximum number of coins (84 million), a different processing algorithm (using scrypt instead of SHA-256), and a replacement graphical interface.
These features have made Litecoin an attractive payment method not only for individuals but also for businesses as Charlie Lee has planned. The Lightning Network, Alza.cz, and Wirex may be journalists of perhaps the upcoming Litecoin craze.