X

1793 Views

Litecoin Cryptocurrency Review

Spread the love

About Litecoin

Litecoin is a cryptocurrency based on blockchain network. It was launched in October 2011 by Bitcoin and designed to be a faster and more advanced version of it. In reality, it has a lower exchange price and is taking more time to process the data. Anyway, Bitcoin decides to keep the currency alive as a tester coin. It became one of the most popular cryptocurrencies in the world.

The innovation of Litecoin

To be different, Litecoin created two algorithms, called Lightening Network and Segregated Witness. These two permits users to have more transactions by the same time. It contains a higher volume of transfers at a high speed and low costs.

They also implemented a smart contract, that gives to users the opportunity to exchange the amounts of coins without an intermediate. You can do by yourself all the job without extra fees.

Litecoin Wallets

To keep your money in safe you have to create a specific wallet. This is possible due to the Hardware Wallet supported by Litecoin enterprise or you can buy it from their official website. To start, make sure you have the LTC cryptocurrencies in your account. If not, you can just exchange other cryptocurrencies on online marketplace.

There are over 11 million of users all other the world that benefit from Litecoin facilities.

The Advantages of Litecoin

– It is permissive for ordinary users;

– The network is capable to exceed their amount till 84 million coins;

– Having a lower price of exchange than other competitors, the Litecoin isn’t proposed for disposal;

– It works as a decentralized network. You do not need an intermediate to make transactions or to check your payment balance;

– It has a higher volume of transactions than Bitcoin, for example;

– As a user, you do not have costs for transactions;

– The Litecoin license permits users to make changes on the platform and create a new version of it;

– The blockchain has a strong security. Before your transaction, you must insert a private password. This allows users to check their balance account in real time.

The Disadvantages of Litecoin

– Some of the users do not trust Litecoin and do not see the future for this cryptocurrency. The platform was launched as a test currency by Bitcoin, but we consider that this foundation it has proof that is worth your attention and investments;

– When Litecoin is launching a more advanced version of them, Bitcoin will respond with the same process. Anyway, there are users who like Litecoin more than than Bitcoin.

Conclusion

Litecoin has proven that is worth its place in the most popular cryptocurrencies in the world. Launched as an experiment it is overtaken only by Bitcoin, Ethereum and Ripple currencies. From a small network it grew up in a powerful blockchain. Are you an ordinary miner or a professional one? There is place for everybody. The Litecoin will surprise you!

To stay updated to the news follow the Litecoin official website.


You may be interested

Huobi Cloud is Live! Start Creating Your Cryptocurrency Exchange
News
78 views
News
78 views

Huobi Cloud is Live! Start Creating Your Cryptocurrency Exchange

Adriana Midrigan - July 20, 2018

The blockchain financial provider Huobi Group has released a new service dubbed Huobi Cloud, aimed to help users develop crypto exchanges…

Cloudbric: AI Cybersecurity for the Post-Blockchain Age
News
13 views
News
13 views

Cloudbric: AI Cybersecurity for the Post-Blockchain Age

Adriana Midrigan - July 20, 2018

Cybersecurity is not a specialized niche that only the tech-savvy need to worry about anymore. For both large corporations that…

CobinHood Announces New Crypto-Fiat Trading Pairs
News
6705 views
News
6705 views

CobinHood Announces New Crypto-Fiat Trading Pairs

Anca Faget - July 19, 2018

The Cobinhood digital currency exchange has revealed that it will be adding new crypto-fiat pairs in an effort to get…