LiteCoin (LTC) the Promising Coin
Litecoin (LTC) is one of the oldest cryptocurrencies in
existence and launched in October 2011 as a fork of Bitcoin. It shares many of
the same characteristics as Bitcoin but strives to be lighter and faster and as
a result, exhibits shorter block generation times of approximately 2.5 minutes.
This allows for both faster transaction clearance and in turn, lower
transaction fees than Bitcoin.
The team behind Litecoin
describe it as a peer-to-peer Internet currency that enables instant, near-zero
cost payments to anyone in the world. Litecoin is an open source,
mathematically secure, global payment network that is also fully decentralized.
The Litecoin team also look to incorporate technology that improves the coin’s
key functions and as a result, Litecoin enjoys substantial industry support,
trade volume and liquidity, it is a proven medium of exchange and one of the
most established digital currencies with regards to web commerce and internet
spending. Litecoin aims to facilitate an increase in everyday digital transactions
and also aims to operate complementary to Bitcoin.
Litecoin
Features
Litecoin is open source
software and is open to independent verification of binaries and their
corresponding source code. Litecoin also seeks to implement technological
advances that allow it to maintain its position as a leading cryptocurrency.
These include:
Mining – Litecoin uses an algorithm called Scrypt which
determines the mining process for new coins, and Scrypt allows for a higher
degree of parallel processing and is generally more accessible for new miners
than a more traditional algorithm. Using Scrypt helps to facilitate the mining
of Litecoin without using the ASIC-based mining hardware needed to mine coins
using the SHA-256 algorithm. Miners are currently awarded with 25 new Litecoin
per block, an amount which is halved every 4 years or approximately every
840,000 blocks. The Litecoin network is scheduled to produce 84 million
Litecoin, which is exactly 4 times as Bitcoin’s maximum supply.
Litecoin
vs. Bitcoin
Bitcoin and Litecoin are
generally seen as being complimentary and Litecoin often acts to steam ahead
with implementing changes and upgrades that can also benefit the Bitcoin
network.
Litecoin has focused on being faster and more efficient than
Bitcoin and has deliberately aimed at becoming adopted by merchants and
vendors. In addition to implementing frequent block generation, Litecoin also
makes use of the Lightening Network and Segregated Witness (SegWit) to help
guarantee that users will be able to rely on the network being capable of
handling a high volume of transactions at a high speed and low cost. Litecoin
was also recently used to perform a cross chain atomic
swap which allows users to swap cryptocurrencies directly
through the use of a smart contract and without the need for a third party such
as an exchange.
These upgrades give
Litecoin the upper hand with regards to overall efficiency; however it’s almost
inevitable that these features will eventually be incorporated by the Bitcoin
blockchain.
(If your Coinbase is
available for you country buy from our link. If you buy 100$ anycoin you will
get free +10$ worth coin )
You can hold the coins in you wallet if you
like or you can trade (may occur financial loses) LTC with other coins and have
some profit/Loss.
If you need more in
depth detail about how to buy plese read this -
http://holdcrypto.blogspot.com/2018/02/how-to-buy-crypto-and-store-for-lifetime.html
LiteCoin (LTC) the Promising Coin
Litecoin (LTC) is one of the oldest cryptocurrencies in
existence and launched in October 2011 as a fork of Bitcoin. It shares many of
the same characteristics as Bitcoin but strives to be lighter and faster and as
a result, exhibits shorter block generation times of approximately 2.5 minutes.
This allows for both faster transaction clearance and in turn, lower
transaction fees than Bitcoin.
The team behind Litecoin
describe it as a peer-to-peer Internet currency that enables instant, near-zero
cost payments to anyone in the world. Litecoin is an open source,
mathematically secure, global payment network that is also fully decentralized.
The Litecoin team also look to incorporate technology that improves the coin’s
key functions and as a result, Litecoin enjoys substantial industry support,
trade volume and liquidity, it is a proven medium of exchange and one of the
most established digital currencies with regards to web commerce and internet
spending. Litecoin aims to facilitate an increase in everyday digital transactions
and also aims to operate complementary to Bitcoin.
Litecoin Features
Litecoin is open source
software and is open to independent verification of binaries and their
corresponding source code. Litecoin also seeks to implement technological
advances that allow it to maintain its position as a leading cryptocurrency.
These include:
Blockchain – The Litecoin blockchain is geared to handle a
high volume of transactions when compared to Bitcoin. By implementing frequent
block generation, Lightening, and Segregated Witness (SegWit), the Litecoin
network supports high volume transactions without needing to modify the
software in the future. This makes Litecoin more efficient for merchants
and customers who benefit from faster confirmation times and lower fees.
Mining – Litecoin uses an algorithm called Scrypt which
determines the mining process for new coins, and Scrypt allows for a higher
degree of parallel processing and is generally more accessible for new miners
than a more traditional algorithm. Using Scrypt helps to facilitate the mining
of Litecoin without using the ASIC-based mining hardware needed to mine coins
using the SHA-256 algorithm. Miners are currently awarded with 25 new Litecoin
per block, an amount which is halved every 4 years or approximately every
840,000 blocks. The Litecoin network is scheduled to produce 84 million
Litecoin, which is exactly 4 times as Bitcoin’s maximum supply.
Industry Integration – Litecoin was originally a fork of
Bitcoin and as a result the two currencies still share many of the same
characteristics. Litecoin is therefore one of the most well integrated
cryptocurrencies in the sector and enjoys a wide range of support across the
entire industry. Litecoin is well supported by exchanges, ATMs, online and
offline merchants, web casinos, and developers. It is also backed up by a loyal
and passionate community.
Litecoin vs. Bitcoin
Bitcoin and Litecoin are
generally seen as being complimentary and Litecoin often acts to steam ahead
with implementing changes and upgrades that can also benefit the Bitcoin
network.
Litecoin has focused on being faster and more efficient than
Bitcoin and has deliberately aimed at becoming adopted by merchants and
vendors. In addition to implementing frequent block generation, Litecoin also
makes use of the Lightening Network and Segregated Witness (SegWit) to help
guarantee that users will be able to rely on the network being capable of
handling a high volume of transactions at a high speed and low cost. Litecoin
was also recently used to perform a cross chain atomic
swap which allows users to swap cryptocurrencies directly
through the use of a smart contract and without the need for a third party such
as an exchange.
These upgrades give
Litecoin the upper hand with regards to overall efficiency; however it’s almost
inevitable that these features will eventually be incorporated by the Bitcoin
blockchain.
Despite establishing
itself as a top 5 cryptocurrency, Litecoin still trails in Bitcoin’s wake when
it comes to popularity. Bitcoin currently trades at around $7000 and holds a
market cap of around $117B and it is also capable of recording 24 hour trade
volumes of up to four times greater than any other cryptocurrency. Litecoin
currently holds a market cap of $3B and trades at around $60 ( as of 15th
November 2017 ).
Bitcoin is seen as the
superior store of value and The Bitcoin network can never exceed 21 million
coins. Litecoin can accommodate up to 84 million coins and its lower price
makes it more suitable to purchasing low-priced goods or services, and as
cryptocurrencies edge closer to mass adoption this should help Litecoin to
close the gap on its older brother.
How to Buy Litecoin
Go the Coinbase or CexIo
and Create an account This step requires name, email address, and
password.
(If your Coinbase is
available for you country buy from our link. If you buy 100$ anycoin you will
get free +10$ worth coin )
You can hold the coins in you wallet if you
like or you can trade (may occur financial loses) LTC with other coins and have
some profit/Loss.
If you need more in
depth detail about how to buy plese read this -
http://holdcrypto.blogspot.com/2018/02/how-to-buy-crypto-and-store-for-lifetime.html
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