Daily Cryptocurrency News – 20th October 2018

Welcome to our Daily News article. Here are the most important cryptocurrency news of 20th October 2018.

Litecoin Fees to Lower by 10x in The Next Core Release

Source: CCN

According to Medium post, Litecoin is about to lower network fees by a factor of 10 in their next Core 0.17 update.

The average actual transaction fee 0.001 per KB or ~$0.05. With the announced changes that will soon become 0.0001 per KB or ~ $0.005, half a cent and back at 2015 levels.

This move comes in response to 2017 run-up in the price of Litecoin when tx fees regularly reached up and over $0.10 and peaking to $1.

Core Lead Developer Adrian Gallagher talked about this.

He said that to increase adoption and usage of Litecoin, lowering the fees is a good idea

“We’re not even close to block limits, and the block size on disk is pretty small (20GB) relative to other coins. Technically people can already adjust their fees right now to the one above because of the more relaxed min relay/dust relay fee.”

Gallagher also doesn’t think it will be too much longer before this bear market is over (3–6 months.) Thus, it will lay down the foundation for a fee rate which we can grow into proactively rather than re-actively.

After the update release and Litecoin fees are reduced, the fees will become insignificant. Having a tiny amount of fees will undoubtedly start to attract interest from buyers, sellers, and traders.

Half a Billion Borrowed in 6 months: Institutional Crypto Lending Skyrocketing, according to Genesis Capital report

Gemini Capital, an affiliate of Genesis Trading has released an important report.

The report reveals that institutional investment in digital assets has grown remarkably since the start of 2018. Approximately 500 million dollars of crypto has changed hands via the platform since March.

Now, their loan book stands at $130M in active loans outstanding, which has steadily grown over the year despite the fall in digital asset prices.

Moreover, ETH interest waned price fell nearly 80% from March highs, and short interest plummeted. During this time, the demand increased for alternative currencies such as XRP, Litecoin (LTC), and Ethereum Classic (ETC).

You can find more information in their report here

Brave Browser Releasing In-Browser Tipping With BAT for Reddit and Twitter

Brave Software Inc, the makers of the blockchain powered ad-blocking web browser Brave, have been working on the release of its new version. One of the exciting features is that now users can directly tip to other Reddit and Twitter users with their native BAT token.

About the update

The all-new version 0.55 of the Brave desktop browser which was formerly based on Muon has now been redesigned, with exciting updates added.

The team has stated that their new updated browser is now based on Chromium and is available for Windows, Mac, and Linux. They also said that their latest update comes with a set of performance advantages and it has a 22 percent faster load time than the Brave Muon version.

The new browser will include Tor support, a dark theme option, and a more efficient ad blocking mechanism.

Moreover, Brave announced Reddit and Twitter users will be able to tip users who post content on these platforms via the Brave browser.

More features include restoring last browsing session by default, block cookies, fingerprint protection and more.

Finally, the team said the new Brave browser is a sneak-peak at Brave Rewards. Brave Rewards is a feature that will reward users with BAT tokens when they view ads.

You can find Brave’s website here.

Power Ledger (POWR) Just Won Richard Branson’s Extreme Tech Challenge

Power Ledger, the cryptocurrency company, won the Extreme Tech Challenge (XTC) which is known as the world’s largest startup competition.  Power Ledger beat two other finalists one from the AI domain and other from the healthcare domain.

What Is Power Ledger (POWR)?

Power Ledger is an Australian-based company with the goal of democratizing the energy market. They built a blockchain based marketplace where users can trade renewable energy using crypto.

Power Ledger published their reaction to the news. They said that winning this competition provides them with access to crucial investors, high profile serial entrepreneurs, and innovators and mentors who can help them scale.

There is no doubt that Power Ledger has a good future especially after winning this competition. The news of winning the competition instantly had a good effect on Power Ledger (POWR) with its peak being up by 4.3%.

If you missed yesterday news, you can check them here: Daily Cryptocurrency News – 19th October 2018

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