- Litecoin Foundation partners with BitGo to protect its digital assets
- Litecoin MimbleWimble – No future backup in case of inadequacies
- Litecoin Price Analysis – LTC at the frontier of sell-off
Litecoin foundation on Friday announced its partnership with BitGo, to enhance the protection of digital assets. With the partnership, the Litecoin Foundation will use BitGo’s signature wallet for its crypto protection. Though both companies verified the partnership news, none gave in-depth details about the partnerships.
BitGo is a wallet provider founded in 2013, it was initially used as a Bitcoin wallet provider before they diversified to other cryptocurrencies and altcoins. In 2018, BitGo released multi-signature wallets with the aid of seven coins and currently, it has added support to over 200 digital currencies.
Speaking on the Multi-signature wallet, the chief technology officer of the company, Ben Chan stated: “BitGo is the first multi-signature wallet platform that provides support for such a wide offering of highly traded digital currencies. Institutional investors and exchanges appreciate the scalability and security that our single, unified API provides.”
To prove its authenticity and safety, the company acquired insurance coverage from the prominent Lloyd’s of London. So in case of any disaster BitGo user’s fund will be insured up to $100 million in losses.
Also. To ensure the safety of its platform, BitGo got a service organization control (SOC) 2 Type certification from an external audit firm. Joining the leagues of partners is Tron, the firm has stretched its multi-signature support to add Tron to its ecosystem.
Litecoin MimbleWimble – No Future Backup in Case of Inadequacies
For a while now, Litecoin has been unrolling series of updates for its Mimblewimble project since the foundation’s plan to execute the protocol was declared last year. While several people applauded the idea of the update, it did raise concerns from others about what the future holds for Litecoin.
Topping the list of the concern was the possibility of the coin being delisted, which could happen after it switches to the privacy-oriented zone. However, the founder of Litecoin, Charlie Lee responded swiftly to the rising FUD in the community.
Litecoin (LTC) Price Today – LTC / USD
He explained that the team already spoke with 3 major exchange platform and 2 blockchain analysis companies. He gave his word that the exchanges would not be delisting Litecoin. He went thus: “It’s ridiculous to assume we will risk it all without doing our homework. That said, it’s of course not a non-zero risk. But there’s always a risk with anything worth doing.”
Litecoin Price Analysis – LTC at the Frontier of Sell-off
LTC has been setting the pace for lower trader after its recent short recovery. The coin has hit a new two-week low with BTC, signaling a decline below the major $38 level. The coin broke below the weak short-term uptrend line that established during the recent price correction. Bearing the urgent long-term technical in mind, the forthcoming weeks could encounter further abrupt declines. For now, LTC remains on sell signals with the support levels close to $38 and $34.50, with resistance level further close to $44, $51, and $56.