Litecoin (LTC), which is the 7th largest cryptocurrency in terms of market capitalization, have entered into 8th Year. Litecoin community member tweeted about Litecoin completing its 7 years since Litecoin Genesis Block created on 8th October 2011. And, we will discuss the litecoin forecast.
Charlie Lee, the former Google employee and also the Litecoin inventor, reposted the tweet which says:
“The #Litecoin genesis block occurred 7 years ago on October 8, 2011. Happy Birthday, Litecoin! Cheers to @SatoshiLite and all who build with #LTC”
The main purpose of creating Litecoin in 2011, after inception of Bitcoin in 2009, was to overcome drawbacks found in Bitcoin. Rather using BTC’s SHA-256, Litecoin used Scrypt which verify the transactions or blocks in 2.5 minutes as compared to Bitcoin which takes 10 minutes per transaction. Litecoin goes live on 13th October 2011, followed by its Genesis Block which is created on 8th October.
Litecoin (LTC) Price Today – LTC / USD
Recently, Charlie Lee expresses his goals for the coin that the community has main focus of Adoption. Basically, Inventor wants Litecoin being included in day-to-day activities of its users through a vendor, merchant, or cryptocurrency exchange etc.
Litecoin is run by the competent leadership. The platform has already acquired German Bank to convert their coin into real currency which you can use via debit cards on streets instead of being restricted to only internet and mobile transactions.
Charlie Lee is not much ambitious about the market performance of the coin, because he always said that short-term performance of any cryptocurrency doesn’t matter over long-term results, which he thinks possible through adoption of cryptocurrency. At several places, he has shown his interest in the idea of “Financial Freedom and People’s Money”.
Litecoin (LTC) Joining the SALT Family
The main purpose of blockchain technology and cryptocurrencies like Litecoin or Bitcoin is to get away with fiat currencies, banks, and whole traditional financial system of the world. This was and still remains the most ambitious goal. Slowly or gradually, we are moving towards that goal.
New innovative blockchain projects are coming out which offer services that traditional financial institutions were providing for the longest time; blockchain-based services are more secure, fast, and cheap.
Litecoin Announcement from SALT
SALT announced on last Thursday, that their platform is going to adopt Litecoin (LTC) to provide loans and other services. This is quite significant because Litecoin is one of the most secure and reliable cryptocurrencies.
SALT is one of the example, a company founded in 2016 and running since last year, that provides membership-based borrowing for crypto holders. Means, if any person needs loan in digital assets, SALT is the platform to join. Hence, SALT has successfully built a bridge between traditional financial systems and crypto space without the help of banks (like Stellar Lumens or Ripple).
The platform is for everyone because it provides loans that create trade volume and demand for several cryptocurrencies, and they create digital tokens that are useful in real world.
SALT provides competitive loans with better interest rate. The interest rate can be low as 5.99% for the amount of $75000 or less. Although, you can receive loan up to $25 million, in which the interest rate would be 11.99%.