Review on Litecoin by lala frehan
litecoin
Litecoin has created two algorithms that in turn show it differently from other digital currencies, namely Lightening Network and Segregated Witness, abbreviated to SegWit. These two algorithms allow users to trade more in less time. This includes higher volume of high-speed and low-cost exchanges.
litecoin uses a proof-of-work algorithm, but uses Scrypt instead of SHA-256.
The use of the SHA-256 algorithm in Bitcoin has led miners to move to more powerful devices over time, and because these devices are more expensive, the distribution of bitcoins in society is more common among wealthy miners and creates an unfair economic environment.
Litecoin extraction uses CPU-based mining and CPU-based mining algorithms (GPU Mining).
Pros
- transations are faster than bitcoin's
Cons
- not famous as btc and eth
