Industry Report: Is Litecoin Making a Comeback?
Cryptocurrency grows in Japan, and Litecoin is coming back with a vengeance. Want to catch up on the latest digital currency news? Have a gander at the stories below.
Japanese cryptocurrency exchange Zaif is adding XEM currency to its platform. The company repeatedly appears in the headlines, and adding new digital currencies to its trading platform.
XEM currently holds heavy power in Japan, which is often credited for stimulating primary interest in the coin and bringing its $100 million market cap to fruition.
The New Economy Movement, which allegedly uses “blockchain technology to bring back equal” opportunities for individuals, has also proven quite popular within Japanese borders. Speaking of the NEM, Dragonfly Fintech CEO Lon Wong explains:
“It is timely that we can engage someone in Japan to spearhead the development and promotion of the NEM blockchain technology. Japan seems quick to jump onto this technology ahead of the rest of the world, although this solution was mooted ad developed in the USA and Europe.”
Following a rocky period that seemed to last through the early part of 2016, Litecoin executives are revamping the coin and taking it in a whole new direction. Those in charge are seemingly promising an entire list of additions to the Litecoin table, including “new software clients, protocol improvements, and the consolidation of the various communication and governance structures.”
One of the big highlights of Litecoin’s new “coming-of-age story” is the addition of iOS and Android wallets. Such an app has never existed up to this point, and the lack of a accessible mobile wallets has been a major problem for the coin when it comes to expansion.
The new wallet will offer a simple user interface, encrypted private keys, and cold storage for added privacy and customer security. Also in Litecoin’s wake is a new tool slated to maintain the currency’s super-nodes.
Other cool aspects include faster signature validation, wallet pruning, memory usage improvements, and functionality to reduce upload traffic. The exclusive “Litecoin Talk” forum has also been reactivated with a new “read-only” archive following the recent hack which took place last March.
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Images courtesy of Google Play, blockscan.com.