Litecoin Proceeds Its Ascent With Fresh Hardware – Bitcoin Network, News, Charts, Guides – Analysis

Litecoin proceeds to rise ter popularity, spil one of the leading mining manufacturers lists fresh litecoin hardware on its webstek.

Bitmain, based te China, recently listed the Antminer L3+ miner online, with manufacturing and shipping to be finished te July. With prices commencing at $1370, the company claims that it is one of the most powerful and efficient litecoin compatible miners on the market, operating at a peak hash rate of 504 MH’s (megahashes vanaf 2nd) and consuming 1.6 J/MH (Joules vanaf megahash).

This and other fresh developments te mining hardware are further strengthening litecoin’s position following a surge of rente te the past two weeks. Miners have bot displaying support for the proposed software update – SegWit – that if confirmed will improve the network’s potential to efficiently process transactions quicker than leading cryptocurrency Bitcoin. The price of a single litecoin slok to almost $12 on Wednesday 12th April, an increase of 20% from the previous day, and almost a three-year high after it spent years languishing behind bitcoin and its other large rival, Ethereum. Support for the software upgrade wasgoed rapidly approaching the 75% threshold required for the process to take effect at the end of last week.

According to Charles Hayter, CEO of CryptoCompare, litecoin has achieved what bitcoin and ethereum have both failed to do: “it has managed to pauze through an impasse by suggesting a scaling solution.” SegWit will enable miners to process more coins into each litecoin blockchain by undressing out gegevens from litecoin transactions. For buyers this means enlargened ease transferring the balance from one litecoin to another, an ‘off-chain’ transaction that isn’t processed by the primary litecoin network, causing a reduction ter fees. Despite a latest attempt ethereum didn’t fairly reach the overeenstemming required to split its network into two separate coins, a fate that bitcoin also collective te March.

Spil long spil litecoin remains scalable, it has bot discussed that it could build up market share from bitcoin due to the two currencies sharing similarities te their codebases. Petar Zivkovski, director of trading verhoging Whaleclub’s COO, has stated that “SegWit activation is very likely to create a mid-term bullish trend which will increase litecoin’s market cap.” However, he tightly believes that what is good for litecoin will also be good for bitcoin due to “some amount of wealth transfer from bitcoin to litecoin, simply because the most convenient way to buy litecoin is to use bitcoin.”

Albeit it is rapidly being accepted and utilized by global brands and online retailers, cryptocurrency is yet to be fully embraced by one of the largest growing online industries, namely the Gokhal industry. PokerStars, one of the leading online platforms ter the industry, is one such company that hasn’t integrated litecoin or any of its rivals, stating spil yet that it is not on their ‘roadmap.’ Albeit there are numerous online platforms suggesting casino-based games that do accept bitcoin, partnering with the leaders te the industry voorwaarde surely be the way forward to secure the future of cryptocurrency ter the market.

And for now at least miner manufacturers like Bitmain aren’t committing themselves to allocating significant resources to litecoin hardware, despite SegWit-related support from mining pools like China’s F2Pool, due to the very elementary fact that litecoin is still only worth a fraction of the market value of bitcoin.

Related movie: Top 15 Most Popular Cryptocurrency List For 2018 You Should Know

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