LitePay release and soft fork concept will boost Litecoin's price rise - 23.Feb.2018

Will LitePay release soon?

Litecoin's proprietary transaction processor LitePay will be released later this week. As LitePay reflects the amount of transactions denominated in statutory currencies immediately into the bank account at the time of settlement, it can reduce the volatility risk in virtual currency settlement.

As a transaction processor with virtual currency, BitPay which can be settled with bitcoin and BitcoinCash 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 a cheaper transaction fee than when you make bitcoin payment with BitPay.

Litecoin upgrading by soft fork makes excellent "transaction fee market"

In January, Mr. Lee of Litecoin developer is proposing Litecoin's upgrade idea. He announces the concept to adjust by changing the volume of Litecoin's trading volume by giving miner freedom to set fee and creating competition.

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.