"Litecoin (LTC) Is Important For Crypto Space," Said CEO Abra Global

Litecoin cryptocurrency. (Photo; Doc. Harvest Trading Cap)

JAKARTA Litecoin (LTC), cryptocurrency number 12 based on market capitalization is claimed to have an important role for crypto space. This was conveyed by the CEO of the crypto exchange platform Abra Global, Bill Barhydt.

For additional information, Litecoin (LTC) is a cryptocurrency designed to provide fast, secure, and low-cost payments based on blockchain technology.

According to Abra's CEO, Litecoin is an important cryptocurrency in the industry at large. Bill Barhydt said that Litecoin is the only decentralized peer-to-peer payment system with 10 years of uptime without interruption.

As reported by DailyHodl, according to a number of estimates, the Bitcoin (BTC) network has been functioning for more than 99.98 percent of its existence. The latest Bitcoin network outage occurred in March 2013, meaning BTC will reach a 10-year uninterrupted uptime signature in about two months, assuming nothing is wrong with the network between now and next.

Barhydt said he used BTC to store wealth but prefers to use Litecoin to make peer-to-peer payments via cryptocurrencies "if possible."

"Litecoin is important for some reason [in my opinion].... They are testing new technologies and system settings faster than Bitcoin... Mimblewimble, block time, different hashing algorithms... etc. This helps Bitcoin [in my opinion]. After all, it's still just software. Use it or not," said Bill Barhydt.

At the time of writing, the price of Litecoin is trading at the level of IDR 1,174,788 per coin. In the last 24 hours, the price of LTC has decreased by about 1.6 percent. Meanwhile, in one week LTC increased by 12.3 percent based on Coinecko data.