Litecoin has turned seven years old, which marks an important milestone for this popular alternative cryptocurrency. A lot of achievements have been noted over the years, and it appears there is still a lot more to come for LTC. All of these changes and upgrades pave the way for a more competitive cryptocurrency ecosystem.
#3 Debit Card Support
It is always difficult to spend cryptocurrencies, whether one holds altcoins or Bitcoin. Even though some enthusiasts would love to see cryptocurrency displace traditional banking, a collaboration between both industries can yield some interesting solutions as well. In the case of debit cards, they make a lot more convenient to use and spend cryptocurrencies, at least until direct adoption materializes.
In the case of Litecoin, things look very promising where debit card support is concerned. Both TenX and Wirex have confirmed support for this altcoin, and it appears Crypto.com is following suit in this regard. Although the Litepay deal fell through eventually, the current momentum seems to favor this altcoin in the spending department.
#2 Atomic Swaps
For those enthusiasts who keep an eye on the world of decentralized exchanges, atomic swaps will play an integral role. Litecoin has been at the front and center of atomic swaps over the past few years. It can be exchanged to Bitcoin, as well as a few other currencies and assets through this decentralized approach. That is a positive sign, albeit it remains to be seen how things play out in the future.
Litecoin can effectively become a key currency in the world of atomic swaps. Primarily because of its position in the atomic swap department, it can act as a suitable bridge between the likes of Bitcoin and other currencies. This is facilitated further by the currency’s low fees and high transaction throughout when needed.
#1 Scaling Beyond Bitcoin
Unlike Bitcoin, Litecoin appears to have solved its scaling issues quite some time ago. More specifically, the altcoin has successfully introduced SegWit well before Bitcoin did, and its native Lightning Network is also coming into play more regularly.
Because of these ongoing scaling improvements, Litecoin appears to be in a better position than Bitcoin when it comes to mass adoption for payments. Although Bitcoin will get its own upgrades at some point, Litecoin clearly has an advantage. At the same time, it is far less commonly used than Bitcoin or even other altcoins, which leaves a lot of room for future progress.