Litecoin (LTC) may have had an approximate beginning of the year, once its place of 5th the largest cryptocurrency was detected by the EOS (EOS) uprising, to then give way to another digital resource, Stellar (XLM), which surpassed it by market capitalization, thus pushing it to the point 7.
Despite the obvious decline in price as opposed to competitors in the market, LTC has also managed to overcome the resistance of its price surpassing 60 $ per unit, even with the last decline of -1.88 $ representing a slow trend in the market on the first day of October 2018.
Moreover, since one of Amazon's subsidiaries, Amazon Web Services, collaborated with a blockchain-based company called Kaleido, published in May by CNBC, numerous indications have appeared on the issue of having Litecoin in partnership with Amazon in the near future.
The spoken partnership has not arrived even 5 months since the entry began, so what are the facts and what is an urban myth in the history of the "potential" partnership of Litecoin and Amazon?
Amazon is really interested in Blockchain
If something is true about the connotation of Litecoin in collaboration with Amazon, one of the largest e-commerce companies with many subsidiaries, it is the fact that Amazon is actually interested in the blockchain.
As early as May, CNBC wrote about a blockchain-based partnership between one of Amazon's subsidiaries, Amazon Web Services and Kaleido.
Kaleido is actually a blockchain-based cloud-based startup and the partnership between this company and Amazon Web Services has a rather practical and direct purpose; that is to allow Amazon Web Services customers to take advantage of the blockchain-driven use case without the actual need to be particularly familiar with the technology.
With this partnership, Amazon Web Services will enable its customers to advance the use of blockchain technology by positioning their services on the blockchain, which consequently offers more functionality and readiness to AWS customers.
However, even if one of Amazon's subsidiaries introduced blockchain technology for its operations, none of Amazon's representatives said the e-commerce giant is planning to introduce cryptocurrencies as alternative payment methods. on the official website of the Amazon online store.
The possibility of introducing Litecoin in Amazon services
When it comes to a purely speculative possibility of making Litecoin "listed" on Amazon as an alternative payment method that customers would use to pay for goods and services, the potential exists and is.
This is the case because Litecoin has managed to provide faster processing times and cheaper transactions in opposition to its "parent chain", Bitcoin.
Released from the first crypto ever launched, Litecoin is a direct fork of the Bitcoin chain, which fulfills the promises made with a light cryptocurrency that takes less time to validate transactions with the ability to perform a low charge and process microtransactions as well, with 2, 5 minutes for the blocking time in opposition to 10 minutes that Bitcoin is taking for the same operation.
In this sense, Litecoin has great potential to become a payment method, not necessarily on Amazon, but in any physical store or online worldwide. However, in the event that Amazon adopts the need to introduce cryptos as alternative payment methods on the Amazon store, Litecoin can certainly be the first in line for listing as it has what it takes to represent a fast and cheap currency.
The origin of Amazon-Litecoin Rumor Partnership
It all started with the Litecoin community as many LTC members and owners expressed the enthusiasm to see LTC as a payment method on Amazon more than several times, thus bringing the matter to Charlie Lee, CEO and founder of Litecoin foundation and LTC.
At the beginning of 2018, rumors began to appear about potential partnerships between Litecoin and companies like Amazon, Facebook, Google and even Starbucks. Charlie Lee replied that he is not aware of any of these partnerships, adding that they "want me to just lie to inflate the price" as a response to a group of unsatisfied followers on Twitter.
Also in December 2017, we could see glimpses of these indications on Twitter, in particular regarding the partnerships between Amazon and Facebook, as Lee has openly stated that the respective companies should announce partnerships with LTC in case partnerships have been announced .
However, this does not exclude the potential that Litecoin has to represent an alternative payment method on e-commerce giants like Amazon, given its potential.
In addition, Dogecoin fans would also like to see DOGE arrive on Amazon, so one of the DOGE owners launched a petition on Change.org with already collected over 18,000 signatures for the petition that should be presented to the Amazon CEO. Despite the goodwill and enthusiasm, this does not guarantee the "quotation" since Amazon shows no interest in cryptocurrencies in opposition to their open interest in the blockchain as a leading technology.