Litecoin is emerging as a popular alternative on the Dark Web
Litecoin has been on a tear over the past two days. It is now trading at $230.50 on Coinbase's GDAX exchange - more than 45% higher from Tuesday.
Part of the reason attributed to the rise is LitePay, which was talked about here. But it seems that Litecoin is also steadily gaining popularity in the more hidden and put away parts of the Internet.
A recent study by Recorded Future shows that Litecoin is starting to see more acceptance among vendors who operate the Dark Web.
Among the reasons on why that is so, the study says that it is due to Litecoin's speed with regards to transactions - which allows for lower transaction fees and miners can also generate a large number of coins at the same time.
Recorded Future mentioned that this could see Litecoin potentially challenge Dash and Monero as the top choice for cryptocurrencies on the Dark Web within the next year.
Ransomware attacks involving cryptocurrencies isn't something new, and vendors are known to use cryptocurrencies to hide illegal activities and for money-laundering purposes - though it is an image most of these cryptocurrency founders are keen to shake off, as they become more "legit".
--
