Release of LitePay and soft fork concept will boost the price rise of light coins

Release of LitePay

LitePay, a light coin dedicated transaction processor, is scheduled for release in February and will be released for consumers this week.

As a transaction processor based on virtual currency, BitPay which can be settled with bit coin and bit coin cache has already been released.

For normal virtual currency settlement, there is a risk that the virtual currency price will decline at the time until the seller converts from the virtual currency to the legal currency.

Meanwhile, virtual currency transaction processors such as LitePay can mitigate the volatility risk of settlement, as settlement is reflected and the settlement amount in legal currency is reflected in the bank account.

Also, in LitePay, faster settlement is possible with cheap transaction fees, compared with BitPay payment of bit coins.

Litecoin's soft fork

Minor to the block header Recording the lowest commission rate also makes it easier to grasp the more optimal fee.

Today, the creator of the transaction (sender) decides the transaction fee and mining is done in a form selected by minor.

However, by giving each minor freedom to set fees, we can create a more competitive situation.

When remittance is clogged, it is expected that minor will set a high fee and competition will occur at low fee when remittance volume is small, so that clogged remittance will be alleviated.

There is a limit to the number of mining hardware that can be possessed, and the centralized centralization system of the virtual currency (in mining, there is always a minor whose price is lower than others) As a result, it is expected that it will become a fair as a result, commissions will fall, and light coins will be more attractive as settlement currency.