1 Level
7 Review
9 Karma
Review on Litecoin by Minh Nguyen Nhat
Litecoin was first created in 2011 by an ex-Google employee called Charlie Lee…
Litecoin was first created in 2011 by an ex-Google employee called Charlie Lee. Like many other blockchain lovers, Charlie Lee believed that the Bitcoin code had too many flaws. Well, Litecoin is able to process a maximum of 56 transactions per second! This makes it much faster than both Bitcoin and Ethereum put together! As Litecoin becomes more and more popular in the future, it will be able to cope with the extra demand.
Pros
- Litecoin is a blockchain-based cryptocurrency that works in a similar way to Ethereum and bitcoin. It’s a peer-to-peer internet currency that allows for instant, near-zero cost payments to anyone in the world. It’s a decentralized payment network that isn’t managed by any central authorities. The network, like other blockchains, is secured by mathematics. Individuals can control their own finances without relying on third parties – like banks or traditional financial institutions.
Cons
- Litecoin (LTC) is one of the oldest cryptocurrencies in existence and launched in October 2011 as a fork of Bitcoin. It shares many of the same characteristics as Bitcoin but strives to be lighter and faster and as a result, exhibits shorter block generation times of approximately 2.5 minutes. This allows for both faster transaction clearance and in turn, lower transaction fees than Bitcoin.
