Charlie Lee Will Help in the Development of the First Blockchain Smartphone from HTC

charlie lee partners up with htc

Charlie Lee, the founder of the cryptocurrency Litecoin, told on his Twitter about the details of the meeting with the developers of HTC Exodus – the first blockchain-smartphone.

Following the meeting, the founder of Litecoin officially stated that the smartphone will support Litecoin, as well as the work of the Lightning Network. Charlie Lee is now a member of the development team as an advisor.

We would like to remind you that the creators of the blockchain-based game CryptoKitties signed an agreement with HTC for the release of the mobile version of the application.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Bitcoin Miners Are Fooling Around While Earning Tens of Millions of Dollars

According to the recent research made by Diar: Bitcoin, Ethereum, Litecoin, and Dash miners made more than $18 billion without any transaction.

Let us start with the two most famous cryptocurrency – Bitcoin and Ethereum. These two coins were the most popular proof-of-work blockchains, however, they processed the fewest amount of empty blocks, the report shows that Ethereum paid out $65 million in rewards for such blocks in 2017.

Bitcoin Cash, in his turn, has created more than 3300 empty blocks since the end of summer of 2017. It means that monthly about $5 million was gained across all networks. Moreover, Bitcoin Cash miners have earned more than $1 billion since its for on November 15, 2018.

Litecoin is a fast cryptocurrency, and due to its network underutilization, the coin has the most empty blocks. Litecoin miners are mostly hunting for lite blocks, thus its block time is considered to be about 2 minutes. Indeed, the time varies from the difficulty of mining, but in overall every 2 mins, the block is created.

The report suggests miners “fooling around”, because a lack of transactions rises up their reward by far less than gaining the block reward. Let us look on the example.

Block 1586699 which was processed on Tuesday has only transaction less than 1 LTC, nonetheless, the block paid out the mining reward of 25 LTC. It means that the miner has made over $1000 to process less than $50. There is another example, block 1586709, the miner has earned more than $1000 for processing $0 in transactions. Unfortunately, there is no such a thing in the fiat world.

We remind you

How to Get Bitcoin And How Profitable is Mining in 2019

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Where is it Better to Buy Litecoin and What Wallet to Choose?

Litecoin is one of the “eldest” cryptocurrencies. It has been in the top 10 on the coinmarketcap site for a long period of time. Now the project occupies the 4th place, with a total capitalization of just over $2 billion. If Bitcoin is often compared to gold, then Litecoin is considered silver in the cryptocurrency world. Buying this coin is a relatively stable investment, which can bring good profit in the future. In this article, we will talk about how to get Litecoin and what wallet is better to choose.

1. How to choose a Litecoin wallet?

Initially, in order to become the owner of this cryptocurrency, it is necessary to acquire a wallet that supports LTC. There are few variants for storing Litecoin. Let’s take a closer look at each of them:

  • Online wallets are the most convenient in use, but unfortunately, this method is the most unsafe. The fact is that private keys to wallets are on the servers of companies. Potentially, they can be subject to hacker attacks. This may lead to a total or partial loss of assets. For this reason, it is better not to keep all your savings in online wallets. A short list of popular services that support LTC (Cryptonator, LiteVault, block.io, Rahakott etc)
  • Software wallets are intended for installation on desktops or laptops. There are two types – “heavy” and “light”. To install the former, you need a lot of free disk space (hundreds of gigabytes), since the clients of “heavy” software wallets contain the entire blockchain network database. These wallets are fairly secure; one of the most popular full-length official wallets for Litecoin is Litecoin Core. “Light” wallets do not require downloading the entire blockchain, they are more convenient to use but less secure. List of lightweight wallets (Electrum LTC, Exodus etc)
  • Mobile wallets are applications for smartphones and tablets. One of the most popular LTC storage applications on the Android operating system is LoafWallet. If we talk about multiplatform solutions, then these are Coinomi and JAXX.
  • Hardware wallet is an upgraded USB flash drive, which has an auxiliary protective mechanism built into it. They can be made manually, but here is a list of ready-made solutions: Ledger Nano S, Trezor, KeepKey.
  • Paper wallets are one of the most reliable ways to store cryptocurrency. This option is suitable for long-term storage, as using coins on a daily basis through a paper wallet is not very convenient. You can generate a new wallet for LTC at https://liteaddress.org.

2. Online exchanges

According to most users, the best place to buy Litecoin is online exchange. Before making an exchange in any service, it is necessary to make sure that it is working and secure. The fact is that there is a huge number of fraudulent services on the Internet, which either exchange at a very low rate, or do not pay a penny at all. For this reason, it is necessary to be very careful and attentive. Here is a small list of honest and good services that have been operating for years now:

AlfaCashier. This exchange supports a huge amount of different coins and fiat. For example, here it is possible to buy Litecoin with cash Perfect Money, MoneyPolo etc.

Indacoin  – is it very popular online exchange that works in many countries of the world. The main advantage of this service is the ability to acquire LTC or any other cryptocurrency using a credit or debit card Visa/MasterCard.

Large exchanges have physical places where it is possible to buy almost any popular cryptocurrency for cash. But unfortunately, these kind of services are not numerous, and they are concentrated mainly in large cities.

3. LTC purchasing on the stock exchange

Many more advanced users know the answer to the question “Where can I buy Litecoin profitable with minimal cost?” – on cryptocurrency exchanges. These sites are first of all intended for trading cryptocurrency assets, but if you are not going to engage in trading, but want to buy cryptocurrency at the most favorable rate that changes in real time, you still need to register at one of these sites:

Livecoin – a convenient small exchange that has minimal commissions, does not have a minimum deposit amount and works with Fiat.

EXMO – a large choice of languages, moderate commissions and the ability to replenish your account with fiat currencies make this exchange a very convenient tool for purchasing digital coins.

HitBTC – has a friendly interface, low commissions, and also supports USD.

4. Other methods to acquire LTC

It is possible to buy Litecoin through direct transfer of funds to a person who wants to sell his coins. The advantage of this method is that you do not need to pay commissions to intermediaries, to register at various services, etc. But in this case, there is a possibility that the second participant in the transaction may turn out to be a fraud and you can say goodbye to all your money. There are various forums for searching for direct sellers and buyers of cryptocurrency, but they should be used only at your own risk.

5. Conclusion

Many people mistakenly think that it is possible to buy Litecoin stock as simple as Apple, Tesla, Microsoft, etc. But it should be understood that Litecoin is not a company that represents the stock market, it does not have stocks, it is a cryptocurrency project that has its own coins, which can be easily purchased using online or offline exchanges, cryptocurrency exchanges, directly from another person, etc. Many beginners are interested in an important question: “When to buy Litecoin?”. Unfortunately, there is no exact answer to this question. Nobody knows when the best time for purchasing comes. The main things to know about investments in LTС or any other cryptocurrency:

  • don’t invest your last money;
  • don’t buy cryptocurrency for a short term;
  • forget about this money and be morally ready to say goodbye to it.

Only in this case, you will be able to calmly experience the huge volatility and wait for the next growth.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The UN Will Use Blockchain to Develop Healthcare in Africa

The United Nations division, the Office on Drugs and Crime is going to cooperate with the blockchain company doc.com in order to provide free and accessible healthcare and medical services in the Eastern regions of Africa.

Doc.com is a company that specializes In telemedicine and telepsychology. It uses blockchain to let the customers exchange their personal data for tokens, which will open access to various healthcare services.

The company is functioning in over 20 countries with around 130 thousand customers. The United Nations has been researching the ways to use blockchain for humanitarian causes, thus, this collaboration might become the salvation for poor African countries.

We remind you:

The UN Will Cooperate With the IOTA to Increase the Productivity of its Work

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

 

Bithumb Won the Trial in the Case of a Major Crypto Attack

As reported by the Korean subdivision of CoinDesk, a customer of the South Korea-based cryptocurrency exchange Bithumb suffered a tremendous money loss at the end of 2017 due to a hacker attack.

Back in November of 2017, the hacked victim placed 478 million Korean won (426,600 dollars) to his account at Bithumb. Only a couple hours later, an unknown hacker broke into his account, exchanged the money to Ethereum and stole it. As a result, the poor Bithumb user was left only with 11 cents at his account.

In the attempt to bring his funds back, the victim tried to sue Bithumb. However, the exchange management used the Electronic Financial Transactions Act, according to which the exchange is not a financial company, thus, it is not responsible for the hacker attack and money loss. The court found Bithumb innocent.

We remind you:

Bithumb Outruns BitMEX in the Crypto Exchange Battle

Subscribe to the Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Bitcoin’s Lightning Network Is Growing: 500 BTC Has Been Passed

The Lightning Network of BTC, which is an emergency measure aimed at solving the problem of scalability is growing by leaps and bounds, passing more and more milestones on its way.

We have already reported about the previous successes of the Network:

Lightning Network of Bitcoin Blew Up: A 1600% Increase Since Last February

Today we have more exciting news. According to the data from 1ML, the Lightning Network has passed the point of 500 BTC in capacity, which is worth more than 2 million dollars. The number of available nodes has also skyrocketed. It is now 25%, which almost twice as much as it used to be before.

The Lightning Network is developing technically and gaining more popularity. In the recent couple of months, it has truly skyrocketed, judging by all the statistics.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

USD Might Soon Be Replaced by JPY as the Most Popular Currency Traded with BTC

When we talk about crypto to fiat trading or vice versa, in most cases we will refer to US dollar and Bitcoin, since these two are clearly the most popular options. However, USD might soon lose its leadership as the prime choice of BTC traders.

Japanese yen has always followed closely, being the second most popular fiat currency of crypto/fiat transactions. However, recently it has started to gain popularity at a high pace. According to the platform CoinHills, USD currently accounts for about 48% of transactions with BTC, where as the share of JPY is a bit more than 47%, which make it pretty much a tie.

Many experts now state that the Asian crypto market has really stepped up its game and now has a bigger influence on the industry than America and Europe. More and more traders are turning to JPY as a means to purchase crypto.

We remind you:

Japanese Crypto Exchange GMO Coin Resumes Trading BCH, Namely ABC Version of Bitcoin Cash

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/