The last few days the news is full of hype around the payment system based on Litecoin.
It was assumed that LitePay would become a chance to greatness for Litecoin. However, it turned out that the launch of the service would be only partial, and the issue of Litecoin payment cards was postponed. Nevertheless, the possibility of creating a single standard for receiving Litecoin instead of special solutions and individual purses shows that the asset will be used more widely in 2018 year.
Ironically, at the moment there has not been a lot of noise around the launch in social networks, and in the next few months it will be seen whether the costs of Litecoin really go up or have any effect on the price. LTC has fallen slightly in the last 24 hours, as the asset habitually absorbs bad news. Litecoin is trading at 218,16 dollars, which is 1,73% less than the previous day.
But this time, the Crypto-currency seems to have entered into an open competition with Bitcoin Cash, mainly in terms of technology and network capabilities, but also in terms of the potential change in the market price in the long term.
Even 26 February from the creators of the project LitePay not a word. What was actually started is a process of registration for traders, while in general the project will be launched at some point in the future.
The possibility of issuing a Litecoin card was canceled, which aroused the anger of Reddit users in the Litecoin community. The biggest problem when issuing cards with crypto-currencies is connected with intermediaries between VISA and the payment system connected with crypto-currencies. The gap between VISA and WaveCrest caused problems with the TenX and Wirex cards and sent out projects to find other intermediaries.
It is not yet known how LitePay will achieve worldwide recognition, and whether it will reach at all. LitePay itself is a relatively small start-up, which is trying to build its ecosystem from scratch, with little impact right now.
Even for the old ICO projects, which promised to introduce a payment card, the task took several months.
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