Today there are more than a thousand other cryptocurrencies. And many of them were the result of people looking for a dollar or two of profit-oriented investors who have no idea what cryptos are. However, there are those cryptocurrencies that are seriously trying to compete for the first place. You have the likes of Ethereum and even Ripple.
Ripple also hired a number of new members on their team to help decentralize XRP. Although he is dealing with a series of lawsuits, Ripple is doing his best to stay in the game. However, things are rather silent when it comes to Litecoin.
A Github poll found that Litecoin had no repository updates or code developments from April 2018. This is quite a different scenario from those of Ethereum, Bitcoin and EOS which has continuously updated its code.
Litecoin interrupted repository updates when it collaborated with Coinbase's Visa Shift debit card. The Shift Visa card works like any regular debit card. Here, users can make payments directly to places that accept VISA.
What did Litecoin do to stop the developments?
There are a number of reasons for this. One could be the result of the bear market. It could be a case of "bear break run of the developer" in which the developers will tend to collect profits. Furthermore, there are speculations that the Litecoin developer community is still awaiting the first annual blockchain project Summit scheduled for September 14 th to 15 th .
But of course, it's not really all quiet. A significant development that could potentially increase the mass adoption of Litecoin is the launch of Lite.im. This is a project of the Zulu Republic. What it does is introduce an SMS function for the Litecoin community. What he hopes to do is allow anyone using a basic mobile device to use Litecoin's services.
Litecoin to Ponzi Scheme?
A YouTuber recently expressed his opinion about Litecoin, thinking that this is a Ponzi scheme. For YouTuber TruthNeverTold, "He sold it all up high, good to Charlie Lee! Great job! But you just proved that, as I said in 2011, the first to adopt something that has no intrinsic value, they decided to build the value perceived by an unaware public only to sell that illusion for something that has real value ".
On December 20, 2017, Charlie Lee "sold or donated" his entire Litecoin shares. During that time, he said it was a way to avoid the "conflict of interests" that comes from his growth. Lee said that "Litecoin has been very good for me financially, so I'm rich enough that I no longer have to tie my financial success to Litecoin's success … For the first time in 6+ years, I no longer own a single LTC is not stored in a physical Litecoin.
He also defended that the sale / donations did not really affect the market He said that "In fact I did not have many litecoins, my litecoins for sale have not actually influenced the market itself , but the fact that I have litecoins and people were thinking that I could download it on the market was a problem ".  [ad_2]Source link