The Lightning Network got the nod of Microsoft recently after the tech giant subjected the Blockchain platform to viability and scalability tests. The claims made by the Lightning Network since it unveiled that beta-version of its Blockchain solution has been a subject of scrutiny.
While Bitcoin Cash has leveraged on its on-chain scaling as a way out of the poor turnaround pace of the Bitcoin Blockchain, the lightning network offered an off-chain solution in its stead. This was what caught the attention of the Microsoft team, and became a motivation for the research commissioned by the global tech behemoth.
Let us look at the three takeaways that draw immediate attention as the news headlines showcase Microsoft approval of the Lightning Network.
1.Litecoin is on the stands as a result
Litecoin has an online community that has been reviewing the application of the Lightning Network off-chain scaling for the purpose of improving transaction processing times since November 2017. This gives the indication that Litecoin could implement this application on its Blockchain before any other competitor does.
One major advantage that Litecoin will immediately derive is that it will be able to process more transactions and steal the limelight as the fastest Blockchain. In view of this fact, it is important to expect that the price of Litecoin tokens will witness a surge in the short and medium term until other players catch up.
The price of Litecoin tokens has surged from the 146.51 USD mark a week ago to 224.54USD as at 15th February 2018. The market price leap makes Litecoin one of the best price gainers in the crypto scene so far this month.
More companies, exchanges and payment processors will be open to accepting Litecoin payment processing as a result of the unfolding scenario.
2. Bitcoin could become more robust
Bitcoin has gained just above 10 percent increase in market price in the 7 days to 15 February 2018. While the primer crypto has suffered severe price loss in the course of the first 40 days of trade in 2018 it is sure to gain more traction as the feasibility of the Lightning Network capacity is proven.
While it doesn’t take a magical effect to boost Bitcoin Blockchain’s transaction speed, the lightning network effect could make a big difference.It is expected that transaction speed of the Bitcoin Blockchain will improve tremendously boosted from its preset lows of 7 per second to millions of transactions per second.
3. Bitcoin Cash Could Slide
Bitcoin Cash has been positioning to be the prime platform for Bitcoin transactions as it accommodates up to thirty transactions per second at present output count. However, its price gains for the week to 15th February 2018 showed its increase from $1244 to $1346, indicating a price leap that rivals that of Bitcoin for the week under review.
In real terms, Bitcoin Cash has only managed an increase of 10 percent in value for the 7 days under review. BCH has enjoyed a boost in demand and usage for the last few months, except that the run might just be stymied until something more inventive is decided by the Governing Board.
Hopefully, the adoption of the Lightning Network protocol on the Bitcoin Cash Blockchain will be made possible in no time.
What you can do
As investors who look out for opportunities to make a kill, it will be worthwhile to :
- Buy Litecoin before the price surges to new heights
- Buy Bitcoin as it is set to become better
- Watch Bitcoin Cash if they can come to the party or exchange it for better performing coins in the short-term. You start buying it again if the dates are set for the Lightning Network protocol implementation.