Litecoin, currently down more than 90 percent compared to its ATH, focuses on traditional adoption, brand accumulation and the Lightning Network with a progressive coming year.
Litecoin works on developments and makes it more known
At the beginning of this month, Litecoin had stated that they were looking for a good year in advance with many developments under way. In the latest blog from the community manager of the Litecoin Foundation, Ilir Gashi reiterated,
"The things to watch out for are Litecoin Core v0.17 which reduces network transaction fees by 10 times, as well as private transactions on Litecoin's blockchain, as well as the growing adoption of Lightning Network and Atomic Swaps."
The blog for the main part was to counter the FUD surrounding Github that commits activities that indicate that the developments of Litecoin are becoming more inactive, which, he said, is not true. Going deeper into the matter, he shared that Litecoin is in fact regularly engaged on Github, however, these activities do not mean in any way development because it does not capture the entire code construction from the beginning to the end. Moreover, being an open source platform means that several developers and projects work together in collaboration, so Litecoin does not need to constantly strive to make new innovations to achieve a sustainable competitive advantage.
As has been emphasized on numerous occasions,
"Litecoin aims to provide a cryptocurrency that compliments Bitcoin's value proposition store and that stands out as an efficient and effective financial payment solution for anyone around the world."
The eighth most important cryptocurrency is pushing for mainstream adoption with various partnerships and is currently working on Lightning Network, where it is growing steadily, now reaching 122 nodes, with 490 channels and approximately 56.14 LTC ($ 1,772.23) of network capacity.
Recently, the Litecoin Foundation announced the sponsorship of the UFC event which earned him some good statistics on Twitter that, according to the creator of Litecoin, Charles Lee, concerned the construction of the brand,
"So it's a bit like wanting to build that brand and make it better known and it's really a lot of help. I mean we've reached a lot of people, [they’ve] they contacted us, we talked about similar coins only because if they knew about the sponsorship of the UFC, yes. I think it's pretty good, plus that the fight was pretty amazing. "
Also, not to forget the UFC announcer, Bruce Buffer "take control of your money and pay with Litecoin!"
On the price front, while falling more than 91 percent from its all-time high, Litecoin currently trades at $ 31.16 with a 24-hour loss of 1.07 percent.