How to impact a blockchain (A thread):
The last 48 hrs has proven to be a full blown experiment on the #Litecoin blockchain with the announcement of the RPG game @litebringergame
It has shown how the use of every move in the game affects #LTC in various ways (cont...)
2/ #Litecoin's daily numbers are fairly consistent, from hashrate, trx fees, volume, etc.
But after the announcement yesterday that #Litebringer was live & built on the #LTC blockchain, those numbers changed drastically in some areas.
Was that good or bad? Let's find out...👇
3/ On any given 24 hr period, #Litecoin has approximately 40k trx's.
Avg. trx's per second for the past 90 days was around .45.
As of the announcement, 24 hr trx's were up to +60k & avg. trx per second was as high as .70+ (raises of 33% & 36%)
Cont...
4/ These are obviously positive numbers for #Litecoin!
But by having so many micro trx's under $1, how did it affect things like median trx value & median trx fee?
The median #LTC trx value in a 24 hr period avg's between $35-$75, mostly sitting at around $50
This is good...
5/ With a current median #LTC trx value of only $17.35 since #Litebringer was announced, it has been cut in 1/2
With median trx fees plummeting to $.0002 from around $.0005-.0008 previously.
Some may say the game is 'spamming' the blockchain with each move as a trx.
Cont...
6/ NMO's (Non-Monetary Outputs) do indeed add trx's to the #Litecoin blockchain, but unlike other blockchains, the trx's are not coming from a fabricated network created by the creators of the blockchain.
The makers of @litebringergame have been around for decades.
Cont...
7/ So has the #Litecoin blockchain benefited from the increase in trx's, but decrease in median #LTC trx value?
YES
#Litebringer from @CipSoft has brought additional attention and usage of LTC, through micro trx's via legitimate gaming.
Cont...
8/ Ultimately @litebringergame has provided evidence of a desire for gaming on the blockchain where every move is recorded through trx's made in #LTC
This in itself shows value beyond the $'s & proves the flexibility, cheap fees & speed of #Litecoin
This makes us all winners
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