When it comes to securities brokerage and profitable investments, the influence of Wall Street on the entire global economy can not be denied. For centuries, it has hit the global economy, including various business organizations and brokerage firms around the world, both in positive and negative terms.
Regarding the current scenario, the general market trend is slightly bearish and as a result, both new and experienced investors find themselves under too much pressure. Recently, the Fed raised the interest rate for the sixth time since the financial defeat occurred in 2009 and as an obvious repercussion of this , many companies are suffering heavy declines that have caused considerable losses to many economic operators.
Under such circumstances, a large percentage of investors are looking for an alternative in which the scenario is not so gloomy, and this is where cryptocurrencies come. Although Bitcoin was introduced in 2009, the trading of these digital currencies did not begin until 2011. Now, there are almost 1600 currencies available on the market in addition to Bitcoin (source coinmarketcap) and many of them have also a considerable potential. Litecoin (LTC) can certainly be included in the group of such coins kept under observation by Wall Street.
Distinctive features of Litecoin
This cryptocurrency was introduced in the crypto-market to offer an improved alternative to Bitcoin, offering several advantageous features that the digital currency of reference, despite being the most widespread, is not able to provide. These features include:
- Fast transactions: Litecoin offers a transaction speed four times faster than Bitcoin. The latter takes about 10 minutes to confirm the block, while Litecoin requires only 2.5 minutes
- Stability and security: Litecoin uses a Scrypt algorithm instead of the Bitcoin SHA-256 algorithm.
Abra is the absolute news
The biggest news regarding LiteCoin could be the fact that this currency has been quoted on Abra, which will most likely contribute to higher LTC availability.
What is most interesting, however, is that this digital currency is integrated into the Abra application, which will work on the LiteCoin network to enable smart contract operations. There are 20 cryptocurrencies and 50 fiat currencies listed on the broker at this time. The reason why the Abra team decided to opt for the LiteCoin network instead of using Bitcoin Cash, is that because it is considered to be more stable.
With the stability of its price and the growth of technological improvements, LiteCoin was therefore chosen for integration into Abra to allow the use of smart contracts. Another reason why Abra is “conquering” the LTC network compared to other blockchain structures is the fact that LiteCoin may have cheaper transaction fees compared to other currencies of the same range.
Smart contracts should be enabled on Abra through the LiteCoin network in no time, as the team behind Abra has stated that LTC has the necessary security, scalability, fast transactions and extremely low rates.
Needless to say, this is a huge success for LTC, their team and, of course, all investors, owners and fans of cryptocurrencies.
As for Wall Street investors, Litecoin is able to provide a certain stability that is not so obvious in the rest of the cryptocurrencies and the stock market. The Scrypt algorithm used for the development of Litecoin also takes into account its security by providing an very strong firewall. Litecoin being one of the major currencies among these altcoins, can be an extremely promising prospect for Wall Street investors.