Litecoin Gains Reputation Among Dark Web Users

While Bitcoin stays supreme, Recorded Future embraced a longitudinal examination of dark web communication portals – like message boards, commercial centers and so forth – to help comprehend the structural device for digital currency payments inside this environment.

The authors found that 30 percent of the dark web assessed by the report acknowledged Litecoin. The report likewise noticed that one of every five dark web platforms acknowledge Dash. In any case, Bitcoin’s strength was still ever-present.

The report noted:

“Bitcoin remains the gold standard in the dark web, with all vendors accepting it as a payment, and Litecoin emerged as the second most popular currency, with 30 percent of all vendors who implemented alternative payment methods willing to accept it. Dash is closely trailing Litecoin with 20 percent of the market. Unexpectedly, Bitcoin Cash was the third most common cryptocurrency with 13 percent of vendors trusting it as a payment method.”

As per the report, dark web ‘criminals’ have begun to voice disappointment associated with the transactional cost of utilizing Bitcoin and that because of lost ‘revenue’ numerous dark web operators have begun to use alternative token digital currencies.

In any case, the initial commentariat believing was that criminals would basically move to Monero or Dash. The confirmation from this longitudinal examination expresses an optional reality on the dark web – one that considers Litecoin to be a well-known crypto coin for dark web transactions.

The report additionally contended that Litecoin will have an impact inside the mainstream criminality of cyber-attacks. As Litecoin’s prominence develops, so will the utilization of Litecoin-empowered malware. This could bring about a brand-damaging result for the Litecoin Core Development Team. The most recent news that Litecoin will be ‘forking’ could likewise be associated with the dark web precursors that have gradually criticized on the credibility of the token’s power inside the mainstream.

The news that Litecoin is forking into Litecoin Cash was met with market uncertainty as the value fell 1.78 percent in post-declaration trading. The originator of Litecoin, Charlie Lee, has questioned the fork – with some articulating that the move could be a scam.