SHIB inventor Shytoshi Kusama shared his latest comments about Litecoin, one of the oldest altcoins. Here are the details…
SHIB inventor Shytoshi Kusama shared his comments about LTC
In a tweet on Friday, Shiba Inu developer Shytoshi Kusama made negative comments about Litecoin. He said Bloomberg Business should stop showing Litecoin as a third option to Bitcoin and Ethereum. “Someone tell Bloomberg Business to stop showing Litecoin as the third option for BTC AND ETH,” Kusama tweets. Then, Litecoin responded to the developer with the tweet “You are right, (LTC) should be first” on Saturday.
It’s worth noting that despite Litecoin’s backlash, demand for the altcoin has continued to decline in recent years due to a lack of development activity and low profit expectations. As a result, its market share once fell to 20th place of the top 10 cryptoassets by market cap; at record lows. However, the lack of demand had a benefit. The altcoin, which has many code similarities with Bitcoin, has been working without interruption for almost 11 years. Thus, it provides reliable service for those who use the network. Additionally, its developers are currently advocating Litecoin as an efficient and inexpensive decentralized currency for payment.
In this regard, it faces stiff competition from Bitcoin with the development of the Lightning network and stablecoins growing in adoption. Meanwhile, other altcoins have grown in popularity, including meme coins. It is worth noting that these new altcoins offer smart contract functionality that allows for a number of new developments that increase utility and investor interest.
Shiba Inu profited many people
Notably, the Shiba Inu has been one of the tokens that has taken the crypto world by storm. Last year, the Shiba Inu was the most popular cryptocurrency, surpassing even Bitcoin. Also, the meme coin has made many of its owners millionaires. It made a staggering 45,000,000 percent profit during the year. Meanwhile, despite all this, the community and developers have shown a desire to reach more milestones and shed the “meme token” hashtag.
As we have also reported as Kriptokoin.com, the developers are currently building a metaverse around the famous dog token. Additionally, a Wednesday blog post revealed that Sony’s former Chief Technical Artist David Kern has joined the team in a consulting role. Due to security concerns, the world’s largest cryptocurrency exchange Binance and other top exchanges have announced that they will no longer support Litecoin (LTC) deposits and withdrawals using the Mimblewimble Extensions Block (MWEB) function.
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