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According to Bill Barhydt, CEO of Abra, here’s Why LTC Is Important

According to the CEO of the cryptocurrency asset management platform Abra, Litecoin’s (LTC) dependability makes it significant for the overall crypto market.

According to Bill Barhydt, Litecoin is the first decentralized peer-to-peer payment system with a ten-year uptime record.

The proportion of time a system has been up and running is called uptime.

The Bitcoin (BTC) network has reportedly been operational for more than 99.98% of its lifespan. If nothing goes wrong with the network between now and then, Bitcoin will reach its 10-year record of unbroken uptime in around two months since the most recent network downtime occurred in March 2013.

Barhydt claims that although he likes to utilize Litecoin for peer-to-peer cryptocurrency payments “when possible,” he favours Bitcoin to keep the money.

Explains the CEO of Abra,

“Litecoin is important for a few reasons [in my opinion]…. They test new technologies and system settings faster than Bitcoin… Mimblewimble, block timing, different hashing algorithm… etc. This helps Bitcoin [in my opinion]. In any case, it’s still just software. Use it or don’t.”

As of this writing, LTC is selling at $77.40. The crypto asset with the 13th-highest market value has increased by more than 2% over the previous day and over 13% over the past week.