BlackCoin Replaces Litecoin As Secondary Market On BitTrex - From The CoinFront

Litecoin has been struggling lately, but it received another blow as BlackCoin has become more common as a secondary market.

BitTrex, one of the larger and more influential altcoin trading platforms, has decided to replace its Litecoin secondary markets with BlackCoin.

The reasoning they gave is because the Litecoin network isn’t fast enough to handle the large numbers of transactions, but there might be more to it as well.

Litecoin’s fortunes have been dwindling lately, struggling as a result of a dramatic drop in value and decrease in trading.

Why BlackCoin?

BlackCoin is one of a number of altcoins which have emerged in 2014 as contenders for the top spot in the altcoin world.

The BlackCoin team is made up of 60 different developers across the globe, and continues to innovate and bring new ideas to the cryptocurrency space, including the BlackHalo protocol. On top of that, the BlackCoin network is known to be one of the fastest, with transactions often confirmed in under 10 seconds.

Editor’s note: BlackCoin Foundation director Adam Kryskow recently wrote an article for The CoinFront on why altcoins are important for the cryptocurrency world. Check it out!

Why is a Secondary Market Necessary?

As Bitcoin becomes more popular and more valuable, people will become reluctant to trade it. And with such an enormous price value placed on Bitcoin compared to other cryptocurrencies, it’s beneficial to have a secondary market of a less valuable altcoin to trade.

When exchanges offer only Bitcoin trades to other currencies, it becomes more difficult for a new altcoin to enter the market and build its value. After all, if Bitcoin explodes in price like so many of us are hoping it will, many altcoins will be worth less than one satoshi each, making it inconvenient to trade.

What Does This Mean For Litecoin?

It’s no secret that Litecoin has been struggling lately.

Litecoin founder Charlie Lee once again reached out to the Dogecoin community about merged mining, but it’s unlikely this will solve their problems.

While Litecoin has always had a solid community backing it, this may be the most challenging test they have ever faced.

Is BlackCoin a better choice than Litecoin for a secondary market? Leave a comment below!

BlackCoin Replaces Litecoin As Secondary Market On BitTrex