Is Bitcoin second best now?
Litecoin will be adding an upgrade that will make litecoin fungible. This is the last characteristic of good money that bitcoin and litecoin currently are missing. Fungibility is the characteristic that a money is interchangeable and cannot be differentiated.
For example bitcoin isn't fungible today, because each bitcoin has specific transactions that can be linked and hence each bitcoin has a history. If that history becomes tainted or perceived as tainted then those bitcoin can be flagged.
Fungibility will make each litecoin equal to every other litecoin. This is important for money to be a useful tool.
Paper money (cash) is fungible because it doesn’t matter what physical dollar bill you have. Every dollar bill is worth $1, every five-dollar bill is worth $20, and so on. No matter where the bill was printed or where you got the money from, you can use all cash to pay for the same things.
The Litecoin network is expected to activate the MWEB upgrade in the next couple of months. Signaling and activation can start as early as February 25th or so.