Home Altcoins News Is Litecoin (LTC) a perfect Network for Reference Coin – rCoin?

Is Litecoin (LTC) a perfect Network for Reference Coin – rCoin?

Litecoin LTC rCoin

Talking about Litecoin averaging per day, David Schwartz stated, Since Feb 17, 2021 Litecoin has averaged per day, Over 200,000 receiving addresses, Over 230,000 active addresses, Over 90,000 new addresses, Over 140,000 sending addresses, Over 100,000 transactions, Over 15,000,000 LTC transacted and Over 200 LTC per transaction.

Reportedly, it has been stated that Bitcoin users can take advantage of MWEB on Litecoin. With Atomic Swaps it is possible to swap BTC to LTC in a trustless and decentralized manner. These coins can then take advantage of MWEB and then swapped back out to Bitcoin.

Further stated, this is one of the many ways Litecoin complements Bitcoin. Their technical similarity allows for interaction between the two chains, while some more experimental technologies can be tested on Litecoin.

Some of the users were recently discussing on whether they should release a stablecoin on the Litecoin Network. For benefits like: – Fast (<2.5 mins) – Cheap (low fees) – Stable. Some of them tried to joke stating Litecoin price is already like a stable coin.

Someone recommended that Litecoin should check out the Haven protocol method of stable coin. It’s absolutely genius and determined by algorithms rather than a trustee holding physical cash. You have a base token called XHV that fluctuates in price and can be traded on exchanges.

A stable coin because, like Tether runs on Bitcoin and Ethereum, USDC is on Ethereum, etc. These tokens inherit the limitations of their underlying blockchains. Right now sending Tether/USDC/etc is extremely expensive and slow. If a stablecoin were to run on Litecoin it would be really fast & cheap.

One of the users commented stating, you should rock the world and release a reference coin rather than a stable coin. Would volunteer time to see this idea implemented.

For those who do not know what a reference coin is?  A coin, independent of fiat, that’s 100% banked which can be used to sign contracts. Today, or ten years from now, the effort required to get one coin remains the same.

Litecoin is the perfect network for rCoin. The work is done at the node level & through msgs over the network. Transaction ids trigger the work. rCoins are minted and burned based on an exchange rate. Basically, the rCoin would replace the fed & reduce it to a distributed network of math-minded nodes.

Someone expressed “I’m willing to talk about it if you’re interested.”

Very interesting to see lot of ideas are brewing to push the progress of Litecoin to level next.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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