eToro, a multi-asset brokerage company registered in the UK, has recently published the results of its market research on Litecoin (LTC). The research report of the social trading platform found that,
"If bitcoin is digital gold, then Litecoin is digital silver."
eToro's report also stated that Litecoin's network is "by far one of the most well established" in the cryptography industry. According to eToro's research, LTC "can be considered as money" because it is widely used as a store of value and means of exchange, which are the basic functions of traditional legal currency.
LTC Negotiation at "Massive Discount"  In particular, the metrics analyzed by eToro researchers indicate that "LTC exchanges at … a huge discount on what it should be worth." With a market capitalization of over $ 3.4 billion, according to data from CryptoCompare, the report ranked Litecoin as a "deflationary asset" similar to Bitcoin (BTC).
Commenting on the development efforts of Litecoin, eToro noted that the cryptocurrency network is similar to how the Bitcoin protocol was implemented. However, Litecoin has a "more scalable and smaller network" than the major cryptocurrency, the report says.
"The most important developments" in industry
Furthermore, eToro's market research has revealed that "some of the most important developments in space [crypto] took place in Litecoin before any other alt -coin. "The most significant development underway for Litecoin, according to the report, is the adoption by Litecoin of the Lightning network, which is also used by the Bitcoin network as a second-level payment solution to allow currency transactions. faster digital.
In addition, the eToro report found that the Litecoin network was one of the first platforms to implement Segregation Witness (SegWit), a protocol that separates signature data from cryptographic transactions to allow for faster processing. "Segwit working on Litecoin has greatly facilitated its implementation on Bitcoin," says the report.
Due to the rapid integration of Litecoin of new technologies into its platform, LTC-based payments are increasingly used by many companies and retailers such as the Czech Republic and -commit the company Alza.cz and the cryptographic debit card provider Wirex, the quoted report.
Partner of the Litecoin Foundation with TokenPay
Other prominent merchants who now support Litecoin (LTC) as a payment option include CheapAir, a private jet charter company TapJets and eGifter, an online gift card provider. In particular, as reported by CryptoGlobe, the Litecoin Foundation collaborated with TokenPay to acquire a 9.9% stake in the German WEG bank.
This is a significant development for Litecoin because TokenPay could potentially acquire up to 90% of the large investment bank, however, this has not yet been approved by regulators.
Through the partnership, the Litecoin Foundation intends to increase the adoption of LTC by providing encrypted debit cards and various other online payment options using cryptocurrency.
Recently, investing in Blockchain, a cryptocurrency analysis company, has also published its market research report in which Litecoin (LTC) has been ranked among the major major cryptocurrencies for the most legitimate cases of use and " work products ".