Crystal™️ Analytics adds Support for Litecoin

The analytics team of Crystal Blockchain adds yet another member to the list of trading currencies on its platform. It has also incorporated improvements to the monitoring system based on Case Management.

Litecoin revealed its plans to start working with David Burket, the Grin++ developer that wishes to incorporate support on MimbleWimble on the Litecoin network. The news came out from Twitter and announced by Charlie Lee, founder and executive director of litecoin. The main motive of MW being positioned to offer great unified solution to the internal issues.

Looks like Litecoin is fast taking its indomitable form and building a strong foothold industry-wide.

MimbleWimble is a procedure update has a couple advantages, for the confidential transactions known as CT, and non-interactive coin joins. The ones to have made a decision to employ MW with Litecoin will be able to keep their values of transaction concealed. These values can get tangled with other members of the network making it difficult for parties to assess and record activity.

In a recent blog post, the company wrote:

The Crystal team has now added Litecoin support to the analytics platform. This is the fourth digital asset to be supported by Crystal Blockchain, opening up even more powerful AML compliance practices for our clients.”

Litecoin was launched in 2011 and one of the oldest cryptocurrencies. Today, it stands strong in the market with the 6th biggest capitalization. It is available on 126 exchanges for trading, worldwide.

It is a reliable digital asset as it has been in circulation within many VASPs, Virtual Asset Service Providers ever since it came into being. Although, it still has the capability to be exploited by criminals in money laundering as well as more illegal activities just like other digital currencies. Including the Litecoin in the trading, the list has let Crystal clients expand the vision and diligence, adding risk profiling as well as activity tracking to this well-known cryptocurrency.

The Case Management 2.0 update has numerous critical improvements over the previous version. The update is ready to be insulated inside Monitoring as well as the Case Management, for a legitimate cause.

It is also mentioned in the blog post,

Monitoring will now be adjusted to improve client transfer management. By targeting mainly seasoned exchanges with this system, we expect this platform update to be a vital tool for those VASPs who deal with thousands of transfers daily and are in need of more robust monitoring.”

 Case management wrote that, 

“The Case Management system will now be delivered as a tool to simplify and organize investigations related to certain cases, including investigations found through suspicious User Activity from our new Monitoring system.”