According to the CEO of crypto wealth management platform Abra, Litecoin’s (LTC) dependability makes it important in the larger crypto space.
According to Bill Barhydt, Litecoin is the only decentralized peer-to-peer payment system that has been operational for ten years.
Uptime is the percentage of time a system has been up and running.
Some estimate that the Bitcoin (BTC) network has been operational for more than 99.98% of its existence. The most recent Bitcoin network outage occurred in March 2013, which means that if nothing goes wrong with the network between now and then, BTC will have reached its 10-year mark of uninterrupted uptime in about two months.
Barhydt says he uses BTC to store wealth but prefers Litecoin for peer-to-peer crypto payments “when possible.”
According to Abra’s CEO,
“In my opinion, Litecoin is important for a few reasons…. They put new technologies and system settings to the test faster than Bitcoin… Mimblewimble, block timing, various hashing algorithms… and so on. This, in my opinion, benefits Bitcoin. It’s still just software in any case. “Use it or don’t use it.”
At the time of writing, LTC was trading at $77.40. By market cap, the 13th-ranked crypto asset is up more than 2% in the last 24 hours and nearly 13% in the last week.