Review on Litecoin by jood walton
litecoin LTC
Litecoin is inspired by Bitcoin and is technically almost identical to Bitcoin (BTC).
Litecoin was created by a group of bitcoin makers who wanted to make virtual coins easier to extract, and was introduced on October 7, 2011 in GitHub by former Google employee Charles Lee. Initially, the extraction rate was no different from early bitcoin, but as more people turned to bitcoin, the computational difficulty of the network increased, and the CPU was no longer a suitable patch for bitcoin mining.
The main difference with Bitcoin is its security. Due to the use of special encryption techniques, the security of litecoin is higher than that of bitcoin, and in fact, due to the high amount of memory involved in it, hacking and disrupting litecoin is very difficult and expensive. Compared to the bitcoin situation, litecoin is in its infancy.
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Pros
- Having a reduced time to build a template chain
Cons
- Compared to the duration of its operation in the network, it has very little value
