Why are Litecoin and Ethereum so weak (Why is Litecoin not as expensive as Bitcoin)?

08/13/2023 11:50 • Crypto & Markets • 50 views

Why are Litecoin and Ethereum so weak? Why are LTC and Ethereum weak? In the surge of Bitcoin prices, many people have doubts about altcoins. However, if we metaphorize all altcoins, we will find that many cryptocurrencies actually have no intrinsic value support. This is because they do not have any internal asset support or liquidity supply (such as the US dollar, pound sterling, and other fiat currencies). This leads to a claim: people think that altcoins are speculative and they do not understand this situation and consider it as an investment choice.

However, when we talk about some digital tokens, we overlook something: that is the so-called “blockchain”. In fact, “blockchain” is not a new thing — it is a smart contract network built on Ethereum and just a virtual world.

In fact, “blockchain” is not a new concept, but refers to using computer code to solve many real-world problems. Although the answers to these problems seem to be related to blockchain technology, they also have some similarities, such as decentralized trading systems and payment processing capabilities using cryptography.

So, to some extent, “blockchain” is indeed a very interesting technological innovation, but it still cannot fully realize its potential in the current situation. This is why the “blockchain” is used to create real practical applications. “Blockchain based on distributed ledger technology” usually refers to applications run by specific entities. For example, smart contracts can be seen as part of programmable protocols; or you can build applications using smart contracts to make them functional, eliminating all third-party dependencies and intermediaries.

Although there are such obstacles and challenges, most people realize these issues and have started to seriously consider how to make blockchain more easily adopted.

Therefore, “open-source software” is not a brand new term and it may soon become mainstream. In fact, “open-source software” is a cool idea that not only improves existing Internet infrastructure but also allows developers to update platforms and services faster.

Of course, this word itself is a bunch of questions about “open-source software”, most of which are for the convenience of developers. But for those who want to improve themselves, this is a different perspective. Some people even say that doing so is a bit boring, but this is what you want.

On the other hand, some people believe that these projects are easily attacked due to the lack of community support and strong marketing strategies. However, some projects claim that even if their team has enough funds, they will still face potential security risks.

The original text is from ambcrypto, compiled by the BluemountainLabs team, and the English copyright belongs to the original author. Please contact for Chinese reprint.

Why isn’t Litecoin as expensive as Bitcoin?

Editor’s note: This article is from BlockBeats. It is authorized to be reprinted by Odaily Planet Daily.

Bitcoin is one of the most influential cryptocurrencies in the world, but its market value is much smaller than most other digital assets. If it has no advantages, it is worthless and unstable.

The current price of Bitcoin is around $34,000, while Litecoin traded at about $10,000 in July 2019. However, according to data from CoinMarketCap, Litecoin has a historical high of just over $62,000. So why isn’t Litecoin the same as Bitcoin? First of all, Litecoin is not the first one to be adopted as a payment system. Nevertheless, LTC has gained a lot of user support and attracted more developers. In addition, from a historical perspective, Litecoin has achieved great success. With the launch of “Ethereum 2.0”, people began to realize that the “smart contract platform” will become a “basic technology” over time.

Secondly, Bitcoin is still the most popular network. Since the end of 2018, the Bitcoin network has processed over $2 billion in transaction volume. Although this may mean that it is very expensive and costly compared to most major blockchains, these data are still in the early stages. Finally, due to the lack of regulatory restrictions and the influence of some key factors, Bitcoin’s supply is almost entirely controlled by miners–this is because they cannot maintain the security of their networks by obtaining funds through exchanges or custodians, and they can easily access all types of services such as banking.

Third, even in the Bitcoin community, it is believed that “I do have doubts that this situation will happen,” or at least at the end of 2017, when investors seemed unconcerned about Bitcoin’s price fluctuations.

Fourth, many analysts are optimistic about the potential future of Litecoin, “but it is not the time to consider whether Litecoin has real innovation.” Therefore, if Litecoin can achieve faster, better performance, and higher throughput, it may become a more feasible alternative.

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