- Category: Cryptocurrency
- Coin Launched: October, 2011
- Resources: White Paper
- Official Website: Litecoin
- Reddit: Litecoin
Over the last 10 years trading in the market, it has been under performing against Bitcoin in terms of price despite it being the silver to bitcoin's gold.
This is most likely due to the proliferation of newer alternative cryptocurrencies with new utility such as smart contract, DeFi, GameFi, governance and more. Litecoin tends to hold value quite well and experience lower volatility as a mature cryptocurrency, especially when compared to meme coins.
LITECOIN History / Information / Buying / Staking
Created in October 2011 by ex Google and Coinbase engineer, Charlie Lee, Litecoin is a fork of Bitcoin's source code that posits itself as "a silver to Bitcoin's gold." Technically, Litecoin is nearly identical to Bitcoin with key differences relating to block time, supply, hashing algorithm, and initial distribution. Litecoin aimed to keep the best aspects of Bitcoin while making some optimizations for its use as a medium of exchange. Notably, Litecoin implements 2.5 minute block times and an 84 million max supply.
HOW LITECOIN WORKS
A modification of the Bitcoin code, Litecoin has many similar features. So, if you know how Bitcoin works, you’re likely going to have an easy time understanding Litecoin. Litecoin uses cryptography to enable ownership and exchange of its cryptocurrency, LTC, and its software places a hard limit on the amount of LTC that can ever be created at 84 million.
BENEFITS OF USING LITECOIN
Some of the benefits of using Litecoin are:
TRANSACTION FASTER THEN BITCOIN
LOWER FEES THEN OTHER CRYPTOCURRENCY
EXPLOSIVE RETURNS ARE POSSABLE DURING UPTRENDS
LONG STANDING REPUTATION IN THE CRYPTO WORLD
CAN YOU STAKE LITECOIN
Litecoin use the proof-of-work (PoW) algorithm in order to secure their networks.
- COINS SIMILAR TO LITECOIN