Litecoin Reaches Historical Record
Litecoin's virtual currency is also known as "digital silver". In contrast to its most famous cousin, Bitcoin, which is known as the "digital gold".
In the background in the last few years, Litecoin once again gained prominence and saw its price rise more than a thousand percent. At the end of March this year, the currency was traded for about 14 reais. Now, each unit is traded for 160 reais in MercadoBitcoin.com.br, a Brazilian company that trades the currency.
The rise in Litecoin's value is attributed to two facts: technical advances in digital currency and the return of its creator, Charlie Lee, to the project. The advancement by which it has passed, known technically as SegWit, allows for an increase in the capacity of transactions and their adaptation so that other advances are easier in the future.
After creating Litecoin, Charlie Lee, left the project to become chief technology officer of Coinbase, the largest digital currency company in the United States. Recently, he left the project and returned to dedicate himself only to Litecoin, which brought more credibility to the currency.
"The competition from other digital currencies is causing Bitcoin's technical and management issues to be resolved more quickly. In the next few years, consumers will decide who is left and who dies in this fight, "says Rodrigo Batista, CEO of MercadoBitcoin.com.br.
Daily news and insights from the cryptocurrency world
RELATED COVERAGE:
🔵 Commission to discuss Bitcoin regulation in Brazil
🔵 Bitcoin may be worth $ 250,000 by 2020 if trend continues
🔵 Vladimir Putin Meets the founder of Ethereum Vitalik Buterin
Support DropNews Project:
1T2gbni7jjbVBkXvm4AuiXPfxqp6wBTdZ
Thank you for an interesting post @dropnews. Upvoted, followed and re-steemed
Glad that you like! Following you too.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Dropnews from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.