empty
21.12.2021 11:40 AM
Litecoin is a great example of an open-source cryptocurrency

This image is no longer relevant

Litecoin is another great example of the power of open-source cryptocurrency. In 2011, the founder of the project Charlie Lee took the BTC source code and released a competing coin. Litecoin had 4 times faster block times and other optimizations for faster speed and lower cost.

Again, one might think that a lot of competition for Bitcoin is bad. However, Litecoin has made a significant contribution to Bitcoin. For example, there was a huge debate in 2016-17 over SegWit, Bitcoin Improvement Proposal (BIP). Segwit proponents argued that this would increase Bitcoin's bandwidth (capacity), enable the BTC-based Lightning network to be built, and bring other benefits such as Schnorr signatures.

Unfortunately, there were many people in the Bitcoin community who opposed SegWit for various reasons. Some miners thought the Lightning Network would lower their transaction fee income. There were also security issues with such a major update.

Thus, Litecoin went ahead and activated SegWit to Bitcoin in 2017. It became quite clear that it was safe and reliable. Shortly after, Bitcoin adopted SegWit. In 2018, the BTC Lightning Network was launched on Bitcoin, and now, SegWit and Lightning allow traders to send transactions quickly and cheaply.

This image is no longer relevant

This is just a small look at the innovations happening in DeFi and cryptography. The space is developing so rapidly that it has become impossible to keep track of all interesting projects.

Marc Andreessen is one of the most influential thinkers and investors in the world of high technology. He created the first modern web browser Mosaic, in 1991 at the age of 22. He co-founded Netscape and eventually founded the venture capital firm Andreessen Horowitz (a16z) together with his co-founder Ben Horowitz. Wired magazine calls Andreessen a man who makes the future.

Marc believes that cryptocurrency will ultimately be as destructive as the Internet. And recently, a16z raised an impressive $ 2.2 billion trust fund to invest in blockchain technology. He calls cryptocurrency a fundamental technological breakthrough.

Irina Yanina,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD Pair Overview – March 27: The British Pound Stalls

On Wednesday, the GBP/USD currency pair openly traded in a flat range. Volatility remains low, with no trending movements even within the day. In other words, the market is simply

Paolo Greco 03:06 2025-03-27 UTC+2

EUR/USD Pair Overview – March 27: Donald Trump Steps Back

On Wednesday, the EUR/USD currency pair continued trading with minimal volatility and a slight downward bias. Trading volumes were absent, which is unsurprising—there has been very little news this week

Paolo Greco 03:06 2025-03-27 UTC+2

GBP/USD. A Rough Patch for the Pound

The UK inflation report failed to support the pound—all components of the release came in below expectations. On the one hand, this report is unlikely to influence the outcome

Irina Manzenko 23:41 2025-03-26 UTC+2

The Dollar Will Loosen Its Grip

The euro is retreating cautiously, worried about a potential trade war between the European Union and the United States, while the dollar is on track for its worst month

Marek Petkovich 23:41 2025-03-26 UTC+2

Donald Trump sows confusion again with tariff remarks

United States President Donald Trump once again stirred confusion on Tuesday by announcing plans to introduce a series of exemptions to his sweeping tariff proposal. The announcement served

Jakub Novak 11:36 2025-03-26 UTC+2

XAU/USD. Analysis and Forecast

Gold continues to show a positive tone today, but conviction behind the upward movement remains weak. Market uncertainty, driven by the tariffs announced by Donald Trump—set to take effect

Irina Yanina 10:54 2025-03-26 UTC+2

USD/JPY. Analysis and Forecast

The Japanese yen remains under pressure today due to weak domestic economic data. In February, Japan's leading inflation indicator in the services sector rose by 3.0% year-over-year, slightly below

Irina Yanina 10:42 2025-03-26 UTC+2

Looks Like It's Time to Focus on the Euro and Yen (EUR/USD May Fall, USD/JPY May Rise)

Since mid-month, financial markets have been trying to recover while frantically analyzing all possible developments surrounding the trade war the U.S. launched against its largest trading partners. Investor sentiment continues

Pati Gani 08:52 2025-03-26 UTC+2

Markets Won't Rush Headfirst into the Fire

Donald Trump has dealt such a heavy blow to globalization that conditions and outlooks for the future have changed—now divided along territorial lines. While European banks believe the S&P 500's

Marek Petkovich 07:00 2025-03-26 UTC+2

What to Pay Attention to on March 26? A Breakdown of Fundamental Events for Beginners

Very few macroeconomic events are scheduled for Wednesday, and only one important report is expected. The UK will release what may seem like a significant inflation report. Inflation remains

Paolo Greco 06:03 2025-03-26 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.