Home Cryptocurrency What’s Happening With Litecoin?

What’s Happening With Litecoin?

by Alan Daniel

The price of Litecoin on May 5th, 2018 was $177.73, the price of one Litecoin today is $75.93. Litecoin continued to decline from $177.73 to $31.56 by the end of 2018 painting a dire outlook for the coin. Individuals would soon see a revitalization in the silver to bitcoin’s gold in the new year. Litecoin would continue to go on a bullish rampage and rise from $32.00 to a peak of $92.37 on April 6th 2019. The coin would then decline slightly over the next month, taking it to where it is today, at $75.93.

The coin has been on quite a bit of a roller coaster over the past year, let’s take a look at some of the key events which took place within the Litecoin community and protocol.

Charlie Lee Steps Back From Twitter
The founder of Litecoin stepped back from Twitter and hasn’t tweeted as much due to needing to focus on real work and minimize distractions. The founder admitted on an interview with @Cindyblockchain, that there’s “too many trolls and haters on Twitter.”

Potential MimbleWimble of Integration into Litecoin
The creator of Litecoin has also admitted that Litecoin does not possess one key aspect of current money, it is no’ fungible. He stated that “fungibility is the concept that every coin is identical to every other coin”, minimizing discrimination of coins. Yet, due to the transparent nature of the Litecoin blockchain, one may tell the difference between different coins and transactions as they can be tracked. As such, the Litecoin creator looks to integrate Mimblewimble into the protocol.

The Litecoin Reward Halving
The price run-up of Litecoin may be the market and its anticipation of the Litecoin Block Reward Halving event slated to take place on August 6th2019. The Litecoin block mining reward is set to halve on the occurrence of 840,000 blocks. The reward is set to decline from 25 Litecoin to 12.5 Litecoin.

Partnership With Cobo Vault
The Litecoin foundation recently noted their collaboration with the “world’s first all-around secure, military-grade cryptocurrency hardware wallet. Litecoin enthusiasts will have access to the Litecoin-branded Cobo Tablet.

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