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Litecoin [LTC]’s smart contracts network to be used by AbraGlobal – LTC opted over many!

Sthuthie Murthy

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Litecoin [LTC]'s smart contracts network to be used by AbraGlobal - LTC opted over many!
Source: Pixabay

The newest launch of Abra app which supports 20 cryptocurrencies and 50 fiat currencies is the world’s first app to support multi coins. Charlie Lee, founder of Litecoin has just tweeted about his interview with the CEO of Abra app, Bill Barhydt in which the news about Abra using smart contracts on the Litecoin network in about 2 weeks was revealed.

Charlie Lee’s announcement on Twitter:

Charlie Lee's Tweet

         Charlie Lee’s Tweet

After various speculations in the community, Abra has chosen Litecoin over the more popular Bitcoin Cash network to be integrated with their system. According to them, Litecoin has been more stable even when the market shook down. Adding on, Litecoin also has better security and adheres to Bitcoin’s scalability roadmap.

From Abra’s point of view, the core of the app’s protocol will be formed by Litecoin. According to what they declared, Litecoin and Bitcoin are the only two embedded currencies in the app. The rest of them are categorized as “synthetic token” and can be seamlessly exchanged. This is what Abra’s service goals revolve around. They aim to provide synthetic digital currencies which will be backed by existing assets.

Litecoin has not moved from its top 5th position for a very long time now. It has gained about 7.75% in the past few hours and is currently trading at $173.

Alexandro, a budding crypto investor questioned:

“Hey Charlie, I have a question regarding litepay. Is it already launched or is it yet to be launched?”

To which, Charlie answers:

“They are signing up merchants right now, the debit card is delayed. Don’t know anything more than that.”

Jimmy, another Reddit user commented:

“I read a Q&A on Reddit with the CE of LitePay…..WOW! What a disaster. I really wouldnt put any faith in LitePay. Really hoping LitePal do a much better job, sorry.”

Charlie replied stating:



“No sorry needed. LitePay has been a disappointment to all of us so far. Maybe they will surprise us. But LitePay is just one of many companies supporting Litecoin and you are right, so far LitePal has been doing a tremendous job onwards and upwards!”

While there were some positive comments from some users too,

Richard says:

“I think the smart contract is such a brilliant idea. This is great news that will surely show us the way! Keep up the great work on LTC my brudda!”





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Bitcoin

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

Febin Jose

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Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





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