The problematic of Bitcoin as a cryptocurrency lies in its struggles to offer prompt and practical payments. Litecoin’s founder, Charlie Lee, was able to predict the upcoming payment problems for Bitcoin, which allowed him to take certain measures and create a blockchain that would be friendlier towards payments.
After leaving the Coinbase and selling his Litecoin, he became a champion for his own digital currency, omitting the possibility of being accused of dumping or pumping. After Bitcoin has struggled through a few years of toughness brought by its payment flaws, Litecoin has finally got into the limelight after existing in the shadows of all the craze happening on the front.
Last week, the world was shook with the news of a 99 million USD worth transaction being conducted for only 40-cents fee. In February, Litecoin was accepted as a method of payment by Alza.cz, a large European online retailer in Czech Republic.
With further success of instant worldwide transactions performed by Litecoin and its Lightning Network system, it was announced to be supported by Wirex, which is a long-time crypto debit cards provider. Such integration enables users to pay with Litecoin using their card, also having an option of exchanging other altcoins into Litecoin, which is going to simplify the cashing out process.
Polls indicate that Litecoin is becoming more and more popular as an alternative to Bitcoin due to its faster speed, lower fees and prospects of becoming a worldwide payment method available on all the big-name websites and services very soon.