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In line with broader cryptocurrency markets, litecoin has struggled through a volatile ride with several factors driving performance. One important similarity between the Bitcoin and Litecoin blockchains is that they are both powered by the proof-of-work (PoW) consensus.ĭespite their shared heritage, Bitcoin and Litecoin use totally different cryptographic algorithms: Bitcoin uses the famed SHA-256 while Litecoin is built on an algorithm called Scrypt. Currently, there are about 69.4 million LTC in circulation. Whereas there is a maximum of 21 million bitcoins that can be mined, litecoin’s upper limit is 84 million. Given its heritage, litecoin shares a lot of functionality with bitcoin, such as a fixed amount of tokens in circulation. Litecoin’s goal is to improve Bitcoin’s transactional performance, by making transactions faster and cheaper.
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It’s the brainchild of Charlie Lee, a former Google and Coinbase engineer. Launched in 2011, the litecoin cryptocurrency is the result of a bitcoin fork. What is litecoin and how is it different from other cryptocurrencies? What is litecoin worth? Can it really take on bitcoin? In this article, we look at the coin’s recent performance and the latest LTC price predictions. Similarly main rival bitcoin ( BTC) is down 40% since a November high. The current price is down 54% from a November peak and 66% off its all time high last May. Of course the whales may have just been buying the dip. However, today (18 January) almost a week later there has been no notable developments and the price has fallen 7% to $141. The price of LTC started to rise as the news broke perhaps on speculation that the whales were planning something big. That is acording to crypto research group Santiment also noting that this is the longest accumulation pattern seen since 2017. NEAR Protocol also launched a “bridge” to the Ethereum blockchain (Rainbow Bridge), which is positioned on the project website as an opportunity for “easy transfer of assets to the NEAR platform, which works at low costs and high speed.” Thus, this once again underlines the fact that the Ethereum blockchain has strong competitors, and one of the trends in 2022 will be continued competition between Ethereum and other projects.News that crypto whales have been buying up Litecoin ( LTC ) over the last 15 weeks adding 5% of the supply to their holdings caused the price to rise some 15%. Terra and Solana digital assets attracted the attention of 13 and 12 institutional companies, respectively. According to this indicator, only Polkadot (21 organizations) overtook NEAR, if we do not take into account the activity of classical participants in investing in bitcoins and Ethereum. To date, NEAR Protocol has funding from over 40 companies, including Andreessen Horowitz (a16z), Metastable, Accomplices, Coinbase, Pantera Capital, and Ripple’s Xpring project.Īccording to the research company Messari, 13 institutional companies have invested in the NEAR tokens themselves. It is worth noting that all these projects have attracted the interest of investors in terms of investment in their very development. So, on November 7, 2021, SOL soared to an all-time high of $259.96, and Terra reached its record of $103.34 on December 27 last year. If we consider the period from December 2020, the team has grown by 291%, and the project has entered the top 3 most developed along with Terra (+ 313% team growth, up to 33 developers) and Solana (+307% and 228 developers).īy the way, a lot of technological work brought results for these projects, but a little earlier. From April to the present moment, the number of developers working on this project has increased from 125 to 137.
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On January 12, the NEAR Protocol project token (NEAR) updated an absolute price record, reaching $18.72.