Litecoin News Update
It’s a quiet day in the cryptocurrency world. The storm has settled and the sun is out. Investors are finally out of choppy waters and trading with more peace of mind. Top cryptos, including Litecoin are trading in the green. At this point another piece of good news may serve as the icing on the cake that Litecoin investors may have been longing to taste.
Litecoin founder Charlie Lee updates from the headquarters that Litecoin’s next upgrade is on its way. As promised, the developers will be cutting down transaction fees to further make LTC transactions cheaper for users.
Later, he also updates that Litecoin, like Bitcoin, would be integrating “Schnorr Signatures” in the coming days. In layman terms, it’s an algorithm that would make Litecoin more scalable (read: faster), efficient (read: cheaper) and private (read:secure).
Litecoin dev update: we are working on the next release of Litecoin Core and will reduce relay fees to 0.01 lite (0.00001 LTC). Should be released soon. The release after this one, we will reduce min fee to 0.1 lite (0.0001 LTC).
I’m also finishing up my fee signaling proposal.
— Charlie Lee [LTC] (@SatoshiLite) January 18, 2018
I’m excited to see progress made on Schnorr Signatures. (That’s a mouthful. How about SSigs?) SSigs are coming to Bitcoin and Litecoin! For more info on what makes SSigs so awesome, read this: https://t.co/oF7xUA3sfw https://t.co/pizupW0BFD
— Charlie Lee [LTC] (@SatoshiLite) January 18, 2018
Basically, we’re getting a couple more steps closer to seeing Litecoin becoming the Bitcoin substitute for day-to-day digital payments. Litecoin is going all out to replace the slower and more expensive Bitcoin as the go-to digital medium of exchange.
Bear in mind that its success ultimately depends on investors promoting and using it for transactions. So you and I must individually play our parts in reaching the goal.
The Litecoin founder has, on numerous occasions, reminded his followers to more than just invest in Litecoin. He urges them to use LTC for payments and he promises that prices will automatically follow demand.
Good news is that with more and more platforms beginning to support LTC, users will be finding it much easier to transact in it.
Most recently U.S.-based PayPal-like service BTCPay Server has begun offering Litecoin support on its payments platform. Just earlier this week, Canada-based CoinCards opened support for Litecoin. Meanwhile, the Litecoin Foundation is also coming out with its own version of a dedicated Litecoin payments processing platform LitePay next month.
So, we have our fingers crossed.
What’s Happening to Litecoin Price Today
Litecoin price is up about 2.1% in the past 24 hours. The average LTC to USD rate at the time of writing is $201.54.
litcoin price chart
Analyst’s Take:
We believe that the recent cryptocurrency crash created a lucrative opportunity for investors. It’s a chance to board the Litecoin rocket ship while the tickets are selling for cheap. We heartily maintain our LTC price target of $400 as we stay true to our original Litecoin price prediction 2018.