Litecoin is tanking, per charts offered by CoinMarlketCap, despite releasing a significant network upgrade aimed at improving security on the network.
The digital asset, currently trading at $89.44, was 5.5% down at the time of writing, despite recording an increase of over 45% in 24 hours. Litecoin now has a circulating supply of 72,400,940 LTC and saw a 5.4% decrease in its total market cap, taking it to $7,512,233,632 as of the time of writing.
LTC’s new security feature
Litecoin recently announced the release of Litecoin Core version 0.21.2.2. The Litecoin new feature includes a significant improvement to the security that affects earlier versions.
According to the firm, this version incorporates updates that strengthen the security of nodes and networks. These changes are crucial for every user who operates a node and uses a wallet per their report.
The firm specifies that In the case of significant network traffic or when linked to severely sluggish peers, it is essential to set memory consumption limits and monitor them carefully. If there is a surge in activity throughout the network, this safeguard prevents nodes with less powerful hardware from running out of memory.
What’s unique about LTC?
Litecoin is a cryptocurrency that stands out among other cryptocurrencies due to its faster transaction times and lower transaction fees. Its mining algorithm, Scrypt, is designed to resist specialized mining hardware, keeping the network more decentralized.
Litecoin was one of the first cryptocurrencies to implement Segregated Witness (SegWit), which separates transaction signature data from transaction data, increasing the network’s capacity.
With an active development team and community, litecoin offers a faster, cheaper, and more innovative alternative to bitcoin, making it a popular cryptocurrency with a dedicated following.
