Review on Litecoin by saly raybon
litecoin
Litecoin is one of the oldest cryptocurrencies on the market. Litecoin was launched by Charlie Lee in October 2011. Lee was a former Google employee who designed litecoin to complete bitcoins and solve some problems such as transaction time, costs, and central mining pools. Litecoin is often compared to bitcoin. If you consider bitcoin as gold, many call litecoin silver. Meyers receive a reward for each correct calculation and, as a result, add a new block for their cooperation in the reward network. Miners currently receive 25 LightQueen per block.
Since these digital currencies are still "emerging", it will be difficult to estimate their value. Changes in the way international capital management can lead to a reduction in the need for digital currencies. Countries like China have laws that control the outflow of capital from their country, so you can invest in digital currencies to circumvent these restrictions. This digital currency is stored in wallets on the blockchain. You can access the litecoin wallet from anywhere in the world.
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Pros
- Transaction speed
- Transaction fees
Cons
- The mining process requires a lot of energy
