Litecoin as a good payment instrument

Lebedev

Lebedev

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Jun 26, 2018
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It is very hard to talk about cryptocurrencies and especially investments in them, however, they are becoming more and more used by common people, what is a good sign of active development and future perspectives.

This month Litecoin network has shown hashrate level that has never been seen before, the previous record was in the end of May 2018.

How it is said in Litecoin foundation official blog this took place on 4 Aprill, when the network power was as high as 359.43TH/s, almost a year ago this parameter was 342.88TH/s.

It is good to know that simultaneously with growth in hashrate we could have seen increase in price - what shows that in some cases price of a coin depends on how used it's been.

Since the new historical level, network hashrate as well as cryptocurrency price has fallen a bit, however foundation employees and developers make an emphasis on that it shows that the network itself has become more stable to potential attacks.

Litecoin as a good payment instrument

Classical cryptocurrencies networks use Proof-of-work protocol, what means that the authenticity of a block (group of transactions) is proved by hard math calculations. Litecoin also uses such protocol to organize its work, hashrate goes right after the price, but in this case increase in hashrate might have meant a better quality of mining - according to spokesman of Litecoin foundation.

Before, on the first quarter of 2018, Litecoin has doubled in price, what is an incredible result for a cryptocurrency, because there wasn't a lot of such bull runs in coins prices.

What is more, this summer there will be so called halving in the Litecoin network, when the price for finding next block's hash becomes 12,5 LTC, instead of 25 LTC.

All of these might make you interested in Litecoin in both ways, as a goof payment instruments and as an investment tool.
 
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