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LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin
LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin

Good-Bye Blockchain, Hello DLT: The New Voices Have Spoken

  • Alexander Goborov

    A report by Forrester Research claims that DLT is the new kid on the block in the minds of most up-and-coming fintech players

Good-Bye Blockchain, Hello DLT: The New Voices Have Spoken
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Contents

Of late, scientific research has been contributing more and more to the general rhetoric of the Blockchain movement. Only last week, a report put forth by the Ethereum-backed ConsenSys and Whiteblock declared that EOS was not a Blockchain company at all, merely a cloud-storing service, an accusation that caused big waves in the crypto community, naturally. Now, another report claims that the actual term Blockchain is being abandoned altogether by many up-and-coming players in favor of the new term, DLT.

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The Report and its Makers

Forrester Research is a research facility based in Massachusetts, the United States, in a town called Cambridge (not to be confused with the one in UK), which is also home to the world famous MIT and Harvard University. The company was founded long before the term Blockchain even appeared on the horizon, all the way back in 1983, by the businessman George F. Colony, whose personal motto is:

“When I meet with a client, I have one mission: to tell them something they don’t know.”

Colony himself is a graduate of Harvard University and a frequently quoted figure in many well established publications, among them The Economist, The New York Times, and The Wall Street Journal.

With their annual revenue exceeding 300 million USD, Forrester Research is regularly hired by companies related to the world of technology for the purposes of their market research and strategic planning. Forrester’s latest report tackles the inner workings and the hidden tendencies of the crypto world.

What is DLT?

The report, co-authored by Martha Bennett, a Forrester analyst, states that, according to the research conducted, more and more companies are opting for the term DLT instead of the usual term Blockchain.

What is DLT?

DLT stands for Distributed Ledger Technology, which underneath is little different to the more common Blockchain; however, many new companies are said to have chosen to label themselves as DLT because presumably:

a) The term Blockchain, while tremendously overhyped, is rather less descriptive, whereas DLT is much more so from the vantage point of the actual technology, even if, at present, the term is less known;

b) With so many ICO scams and scandals in the news, the term Blockchain carries with it a substantial amount of unwanted baggage, i.e. “negative wild west connotations”, which many new companies would, now doubt, want to shed;

and

c) Furthermore, some companies may not be “eligible” to call themselves Blockchain, as standards, albeit varying, have already been set. In contrast, with the term DLT, new companies may, indeed, be able to find their footing, according to Bennett:

“The networks that are live or under development vary greatly and frequently lack key characteristics that many regard as essential components of a blockchain.”

Moving on

Of course, the paper by Bennett et al is reporting a trend, not the absolute numbers. In other words, to give an example, the fastest growing economy in the world is not necessarily the largest economy in the world, only the rate itself may be highest. Likewise, simply because the term DLT is now becoming more popular among new players does not mean that there are more DLT companies around; in fact, the opposite is true. A quick search engine inquiry on Google returns over 200 million hits for “Blockchain”; on the other hand, the term “DLT” returns a mere 1.5 million hits, as of right now.

Be that as it may, the trend is here, so let’s see how the future unfolds over the next several months: we may yet be in for a surprise.

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LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin

  • Jack Thomas

    🌱☀️Litecoin has been one of the best performing cryptocurrency assets in the first quarter of 2019, and there are a few reasons why it is boosting the crypto spring. From its impressive mainstream adoption, and with its speedy and cheap transactions, as well as added privacy and impending halvening, the price of LTC is set to do well

LTC Price Predicted to Keep Rising After Sparking Crypto Spring — Five Positives from Litecoin
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It would be wrong to call the cryptocurrency bear market over – the same low-performing market that has lasted well over a year now – however, there certainly is a change in the air. Bitcoin is over $4,000 and other altcoins have flexed their muscles, but none more so than Litecoin.

Litecoin, the fourth-biggest coin, which is currently trading at $60.52, has doubled its value in the first quarter of 2019, having started the year at $30.29. This coin, dubbed the silver to Bitcoin’s gold, has made some significant strides heading into the cryptocurrency spring.

The cryptocurrency spring, which is seeing prices in the market slowly come right and rally again, may have well been helped get off the ground thanks to Litecoin’s good performance through these first three months.

Many have dubbed this crypto spring as the beginning of altcoin season, and with that, there have been some big boosts from the top 20 altcoins that have aided in bringing positive sentiment to the market – none more so than Litecoin.

Reasons for the boom

Litecoin has always been in the shadow of Bitcoin, but it was created to be something different, much more of a cash system. It is this direction that is starting to be evident with Litecoin’s movement as the coin looks to forge ahead.

Reasons for the boom

One big boost for Litecoin has been its mainstream adoption that has picked up significantly with the goal of the coin’s team to get the cryptocurrency into payment systems. For example, Bob Moore Auto Group has signed on with Aliant Payment to accept Litecoin at their dealerships, starting with an Oklahoma City location. This means customers can buy a Subaru with LTC.

Additionally, Litecoin has always been about having fast transaction times as well as low fees in order for it to be usable as a digital cash, and the way things are going currently, it is hitting those attractive targets.

For instance, a November 2018 transaction worth $62 million only cost the sender $0.50 in fees on the Litecoin network. And with these low fees teamed up with the scaling layer of the Lightning Network, there is not much slowing Litecoin down.

Litecoin is also looking to boost user privacy as the team believes it is something that is missing from both LTC and Bitcoin. The Litecoin Foundation announced last month a collaboration with privacy coin Beam to potentially integrate the Mimblewimble protocol, which would add scale and privacy to the cryptocurrency.

Finally, the Litecoin halving is due soon, and historically, this kind of event has always been a catalyst for further growth and rallies in the cryptocurrency. The last one in August 2015 saw a serious downturn be broken, and even in the run up to this halvening, there looks to be a break in the downturn already.

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