Bitcoin is the most dominant coin in the crypto world. Litecoin, with its high transaction volume, is frequently used as a ‘lite’ version for Bitcoin. With a market cap of almost $1bn, it has been growing rapidly in value over the last several months. However, being based on an identical code-base to Bitcoin, Litecoin is vulnerable to the same threats faced by Bitcoin, such as high transaction fees and a lack of liquidity.
It is unclear what Litecoin’s future will be like. Will it grow and become more mainstream? Or will it remain marginalized within the cryptomarket?
Litecoin is a fork of Bitcoin, with a much faster difficulty retargeting algorithm, and a new generation of more advanced mining hardware.
As we all know Bitcoin is the most popular cryptocurrency in the world. However, there are many other Altcoins (alternative coins) like Ethereum , Dash and Litecoin which are worth checking out.
The price of Litecoin has been rising much faster than expected. The price has reached $30 US dollars for one LTC with a market capitalization of $4 billion dollars according to coinmarketcap.com. It also has a great performance in comparison to Bitcoin which was valued at about $9,000 US dollars when it was first created in 2009.
What makes Litecoin better than its older brother? First of all, it is designed to be faster and cheaper than Bitcoin but it still retains all the best features of Bitcoin like decentralization, security and anonymity. It uses Scrypt algorithm which is considered as an easier way of mining compared to SHA-256 algorithm used by Bitcoin.
Litecoin’s price was over $100 back in 2013 but due to its recent rise it has surpassed that value almost a year ago. In fact, we can say that Litecoin is worth almost three times more now than
We think it will. Litecoin’s advantage is that it can be mined on ordinary PCs instead of being based on the need for expensive, special-purpose hardware. That means Litecoin will have a long runway to grow and reach its potential. It’s also a very good coin: fast, cheap, stable, and secure.
But if this turns out to be wrong, don’t blame us. We only do what we think is right, not necessarily what other people do or think.
One of the reasons Litecoin has made so much progress is that it has a lot of well-known supporters. There are some people in Bitcoin who think that Litecoin is just a publicity stunt and will fade away. But this is not a good way to judge the success or failure of any cryptocurrency, including Bitcoin itself.
One reason the price of Litecoin has risen so much is that people have seen it as a way to get money out of Bitcoin without paying all the high transaction fees that have become a killer for Bitcoin. The other reason for Litecoin’s progress is that people don’t know it exists.
There are two kinds of people who want to buy and sell things. There are people who want to buy and sell things because they like them and want to own them, and there are people who want to buy and sell things because they think the price will go up.
The first kind is easy to understand: it’s what we would expect. The second kind is harder. What makes it difficult is that most of the time the second kind is right!
For example, a lot of people think that Litecoin will eventually overtake Bitcoin. Why? Because Litecoin has a number of advantages over Bitcoin, namely transaction speed, block size, and community support for Litecoin (for example, there are more merchants who accept Litecoin than Bitcoin).
It’s hard to know whether Litecoin can overtake Bitcoin. But if you’re willing to be patient, you may end up with a better outcome than if you’d bought Bitcoins.
Litecoin is a cryptocurrency that uses the same algorithm as Bitcoin. It was launched in 2011, ten years after Bitcoin, and its founder, Charlie Lee, is a former engineer at Google. The difference between it and Bitcoin is that Bitcoin has been designed to make money. Litecoin has been designed to make payments.
If you want to move money from one place to another with as little friction as possible, you are going to end up using Bitcoin. It’s fast and cheap enough for most transactions.
It’s also anonymous, which means your financial transactions can’t be traced back to you. That’s what makes it the preferred currency for criminals.
Litecoin solves this problem too. The problem of anonymity is solved by making a copy of your coins every time you transfer them from one address to another. This helps to ensure that if someone manages to trace the coins back to their source, they will only be able to find one of the many copies of your coins that have been moved around in the meantime; they won’t know which one was yours originally. But this also means that your coins are more likely than usual to change hands several times before they are spent.
That being so, why would anyone use Litecoin instead of Bitcoin?
Cryptocurrencies have been around for a long time, but until recently their value went up and down with the ups and downs of the world economy. Now that the world is recovering, people are looking at cryptocurrencies as a store of value, like gold. So the price of gold has gone up because people expect it to go up, not because they want to buy some gold coins.
The price of bitcoin has been going up even more than gold because it is becoming a store or value. People are buying bitcoin as an investment, and as a way of keeping their wealth from falling in value when their money is kept in a bank account or in something else that could be confiscated by the government.
Litecoin is another cryptocurrency. It was forked from Bitcoin about three years ago, so it’s still very young. The idea was to make Litecoin faster and more efficient than Bitcoin, so it would be well suited for mining and for transactions. And because its founder is well known in the Bitcoin community, Litecoin got lots of attention from miners who were attracted to its faster performance.