The CEO of crypto wealth management platform Abra thinks Litecoin’s (LTC) reliability makes it important to the broader crypto space.
Bill Barhydt says Litecoin is the only decentralized peer-to-peer payment system with 10 years of uninterrupted uptime.
Uptime measures the percentage of time that a system has been up and running.
According to some estimates, the Bitcoin (BTC) network has been operational for more than 99.98% of its existence. The last Bitcoin network outage happened in March 2013, which means that BTC will hit its 10-year mark of uninterrupted uptime in about two months, assuming nothing goes wrong with the network until then.
Barhydt says he uses BTC to store wealth but prefers Litecoin to make peer-to-peer payments over crypto “when possible.”
Explains the Abra CEO,
“Litecoin is important for a number of reasons [in my opinion]…. They test new technologies and system settings faster than bitcoin… Mimblewimble, block timing, other hashing algorithms… etc. That helps bitcoin [in my opinion]. In any case, it’s still just software. Use it or not.”
LTC is trading at $77.40 at the time of writing. The 13th-ranked crypto asset by market cap is up more than 2% in the past 24 hours and nearly 13% over the past week.
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