Charlie Lee, the inventor of the Litecoin (LTC) protocol, has shared some statistics to prove the attractiveness of Litecoin (LTC) in 2020. Mostly, he stressed liquidity, tech advancement and the high level of privacy demonstrated by the "digital silver."
Litecoin: liquid, accessible, low cost
Mr. Lee emhasizes that Litecoin (LTC) is among the leaders of the altcoin segment in terms of accessibility and liquidity. For instance, it is avaliable on almost every crypto exchange platform. It is only Bitcoin (BTC) that surpasses Litecoin (LTC) by acessibility on crypto-supporting automated teller machines (ATMs).
Then, Litecoin (LTC) is offered by PayPal in its first crypto-focused release alongside Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH). More than 350 million users can buy it in one click with fiat deposits.
Grayscale Litecoin Trust (LTCN) is among the most popular investment products by Grayscale Investments. It is trading with a huge premium compared to the price of the basic asset.
The technology behind the Litecoin (LTC) allowed this blockchain to work for nine years with "zero downtime" offering low costs and fast transactions for its customers. It is worth noticing that Litecoin (LTC) was the first network to implement SegWit and Lightning Network solutions adopted in Bitcoin (BTC).
But why did Charlie Lee sell?
Further, Charlie Lee indicated numerous technical advances that make LTC attractive for privacy-focused users. It includes MimbleWimble protocol for by-default transactions obfuscating. At the moment, it is up and running in testnet with only a few bugs to be fixed.
Accompanied by reliable Scrypt algorithm dominance in its hashrate, Litecoin (LTC) technology allows this network to transfer hundreds of billions in U.S. Dollar equivalent.
Meanwhile, some critics from Twitter asked why Charlie Lee sold all of his Litecoins (LTC). Litecoin Foundation, the non-profit behind the progress of Litecoin (LTC) responds that this controversial decision brings benefits to the Litecoin (LTC) audience:
Charlie giving up his stake makes Litecoin more decentralized and keeps monetary influence from clouding decision making.
