Distributed database that is used to maintain a continuously growing list of records, called blocks
The developers of the world’s top Bitcoin mining pool and mining pools for competing coins, ViaBTC, gives the green light for Litecoin, which has been largely ignored for the better part of three and a half years. However, as the Poloniex line chart shows, there was a gradual increase of LTC since March 29th and it reached its peak on May 11th. Since then, Litecoin has been quite stable and now shows a certain tendency for beating its own record.
Line chart of cryptocurrency LTC on the Poloniex exchange
Cryptocompare also reports LTC’s remarkable recovery.
Line chart of cryptocurrency LTC on the CryptoCompare platform
Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency
Thus, an additional LTC/CNY trading pair can do wonders for the Litecoin value moving forward. The trading expected has already started on June 28th.
Besides, ViaBTC is not the first Chinese exchange to list LTC/CNY as a trading pair as of late. Nowadays there is a large demand for Litecoin in China and it is evident that good things are bound to happen for LTC sooner or later. Whether or not that will be due to ViaBTC, remains to be seen.