Developers give updates on Litecoin evolution

Litecoin developers and the Litecoin Association were answering questions from the public on Reddit earlier this week. Several projects have been announced or confirmed:

  • MultiBit for Litecoin: the team is working on porting the lightweight, OpenSource Bitcoin wallet to Litecoin. “We have a working prototype in private testing. There should be a public beta before the end of Q1 2015.”
  • LitecoinAverage.com: a Litecoin average price index similar to BitcoinAverage should be released soon.
  • Integration of Litecoin into Lamassu Bitcoin ATMs: “This project has been delayed due to other priorities but we are planning to continue working on this during Q1 2015.”
  • Litecoin.com: a new website will be launched soon, “aimed at helping people and businesses use/adopt Litecoin.”
  • Litecoin Association: the short term goals are to “get the Association stood up again and open membership for everyone in order to increase funding for future projects”, long term goals could possibly include the launch of a Litecoin Conference.
  • Other projects: “For the last half a year I have also been independently consulting a banking organization that is interested in integrating cryptocurrency into their financial service offering. They are integrating Bitcoin and Litecoin (as well as possibly Ethereum in the future). This is a major project for cryptocurrency ecosystem in general and will be announced in the next few months.”, said Aspect, one of the main Litecoin developer.

Developers and representatives also commented on Litecoin price and position compared to Bitcoin.

“In order for Litecoin to become less volatile, it needs to have real world usage and not just speculation. This is true for Bitcoin, but much more true for Litecoin and other alts.”, said Coblee.

“I always see Litecoin with Bitcoin as a pair. Both are important and complementary to each other. Litecoin can coexist without any problems.”, concluded Crazik.

The price of Litecoin showed a significant increase this week (1 LTC=$2.30 today, a 74% increase over the last seven days) and its market capitalization is above $80 million.

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