ICO CryptoSecure recently hired technology security expert John McAfee that caused share prices of Key Capital, the company leading the development of the project, to skyrocket, surely raising its prospects at flourishing and delivering its grand vision for the future of the virtual currency space.
CryptoSecure has stated that its ambition is to provide “hackproof security solutions” for cryptocurrencies.
If the ICO blossoms and delivers its lofty ambition, it could negate one of Litecoin’s most volatile characteristics.
Markets could flourish consistently if the threat of hacks on digital exchanges is non-existent.
Shares of Key Capital rose by almost 400 per cent following the announcement of McAfee’s arrival.
In a statement from Key Capital it was revealed that Mr McAfee would be joining the ICO as its senior strategic advisor.
The statement read: “Mr McAfee met the CryptoSecure team on a recent Blockchain cruise conference at which he was the keynote speaker.
“During an early morning discussion on the security deficiencies of the cryptocurrency market, he was appraised of CryptoSecure’s military-grade hybrid Blockchain, Trusted Solaris OS, One Time Pad infrastructure project.”
Mr McAfee was described as a man with “considerable expertise” and a “crypto pioneer and visionary”.
CryptoSecure said: “John McAfee brings considerable expertise, both technical and industry specific to CryptoSecure.
“Mr. McAfee is a well-known brilliant, and controversial Internet and crypto pioneer and visionary.
“He spent his early years as a programmer for NASA’s Institute for Space Studies, and later created the world’s first commercial anti-virus software that still bears his name and is recognised as a leading global brand.
“Today he concentrates his passion and genius on the future of cryptocurrency and blockchain.
“He is a champion of the people and a fierce advocate against the increasing incidence and nature of cyber-attacks.”
Litecoin prices are currently in free fall – the cryptocurrency has shaved $27.09 off its value in the last week.
The virtual currency is currently selling for $155.01 at the time of writing.
However, in the last year, the value of Litecoin has risen by a whopping 3517.76 per cent.
Back on 16 March 2017, Litecoin was worth a mere $4.28.
After reaching a record high of $339.45 on December 19, 2017, the virtual money has since plummeted.
Investors will surely be hoping that CryptoSecure is a success and brings more consistency to the trading of cryptocurrencies that have so far been extremely volatile.