Why Litecoin {LTC} might go up
Thanks to the upcoming Delayed Proof Of Work {dPOW} change.
It is still in Beta
The Komodo Smartchain system is UTXO {Unspend TransXaction Output} based. But its blockchain comes with a very clever setup. Using the command-line it is possible to setup ones own blockchain within minutes. Adding all kinds of modules, if wanted. There are also services that can be rented. Some might want to do that when it comes to a more complex setup. In a way the whole Smartchain system is interconnected. And if more transactions are needed it is relatively simple to connect another Smartchain, making the whole blockchain appear as one. Because I consider myself merely a Geek, at the most I cannot explain to you how that is actually done. (Not yet anyway.) But I really have gone from being a bit interested in this type of Blockchain to actively using it on a daily base. Trading quite a lot on its attached Atomic Dex {Decentralized eXchange}. And by doing so I also made a mistake, probably losing some of my Coins.
Looking back I think it could have been okay, but some things just are not easy to do, at the time being. (Also I refuse to use Discord.) There are certain things are not yet implemented in the Atomic Dex app, to be able to retrieve those Coins again for instance. But if I'm right those are still locked in the Atomic Swap procedure. The other Peer cancelled the Swap just after my Coins were send. And I suspect that the same Peer did that also a second time, shortly after the first one. It is was a 'rug-pulling' attempt then it has no use. The Coins I wanted to Swap mine for where going up in price, all of a sudden, so I guess that was the reason for cancelling. Now a refund proces started by the other peer would have been nice, it is all build in the Dex. Somehow the refunding proces started by the Dex itself did not work out. After more than a day I was done with it. Apparently there is an API {Advanced Programming Interface} command to enforce the refunding proces, but that gave only errors. Some password issue, the API seems to dislike stuff like & and so on. It'll get fixed I'm sure.
ARRR Ye in?
A very subtle, 'cough cough', reference to the Pirate Chain Coin, a Komodo Smartchain, completely private. Which unfortunately could not be Swapped at the Atomic Dex because of that. But with the latest Komodo Smartchain version privacy Coins will be able to get Swapped from the 15th of June 2021. Which will make Atomic Swapping even more interesting to many. And not only that, because dPOW moved from the Bitcoin {BTC} blockchain to the Litecoin {LTC} one the extra security and protection will speed up and become a lot cheaper. From my point of view things are starting to become very interesting for Litecoin. With its own private and slim Mimble-Wimble sidechain soon to signal live and being the dPOW storage for Komodo already, I'm expecting it to go up in value again. (Remember to only invest what you are willing and can effort to lose!) Also I HODL KMD {Komodo} as the changes made really might kick things off again for that one. But, that is my opinion.
When you never used an Atomic Swap dApp before then the Komodo Atomic Dex or the branded Doge Dex might be a good place to start. Not just by moving huge values around, but try it using the Rick and / or Morty Coins. They come for free thanks to their build in Faucets and they have no direct market value. But if you dive in deeper you might actually be able to Swap some for KMD {Komodo} or other Coins. Also ERC-20 {Ethereum} and BEP-20 {Binance Smart Chain} are available, so who knows, you might get lucky. When Swapping those Smart-Contract Tokens you need to make sure there is enough 'Gas' available. But I would advice to start off with some trading between Morty and Rick. And it is important to know that these Swaps are done Peer to Peer {P2P} so you need to keep the computer or mobile online during the whole proces, once it started.
Some do take some time
As far as I noticed the transition to the new Komodo version has been done by the most Nodes in the network. Meaning also that privacy Coins might soon be added to the Atomic and Doge Dex Apps. It seemed to me that there was some Network slowdown during the transition, but currently everything looks to function as it should. The KMD I HODL in the Dex Wallet are generating some interest right now and it adds to the joy of using this blockchain. No need to lock down for getting interest, just do not touch for a while. At some point I kept buying all kinds of Coins, for the fun of it. But in the meantime I sold most of them and now I'm mostly just stacking two, BitcoinZ {BTCZ} and Electra {ECA}. Only small amounts every time, as many small steps add up to one giant leap one day. Or something in line with that. And in the meantime I am looking forward to the Atomic Dex update so I can add my ARRR to it.
May the Cryptos be with us!
Try before you buy, works great Swapping Rick and Morty
Screenshot taken in the Atomic Dex
Litecoin at the current price is a very good investment
I think now buying 10 Ltc is better than buying 1 ETH
Yes, I do see more growth potential in Litecoin than Ethereum too.