Review on Litecoin by Eve Vallenilla

Today the volume of payments that are made electronically has grown dramatically compared to the traditional payment methods used by conventional finance. This increase is due to many factors, including: the security offered by virtual payment platforms, the convenience and the saving of time in carrying out complex procedures.

The arrival of blockchain technology has contributed significantly to the permanent emergence of these electronic payment gateways that give the relevant boost to the growth of the digital economy on a global scale. Within them, we have Litecoin.

Litecoin is a digital portal for the immediate processing of payments between users located anywhere on the planet, through access to the network.

This platform presents valuable features that make it worthy of its recognition as an instant manager in the execution of digital asset exchange operations. Among them we can mention:

• The speed of confirmation of commercial transactions

• Motivation to venture into the coin mining business, through the incorporation of personal computer equipment

• Ability to manage large volume of users and support large number of payments with good performance

Despite the fact that the Litecoin cryptographic protocol has limitations in terms of the number of coins that can be maximally issued, its total issuance exceeds the supply of other popular digital currencies that precede it.

However, users who adopt the use of the Litecoin currency weigh between its advantages as an efficient payment manager compared to the disadvantages presented by the mining platform, considering the security offered by the virtual machinery to process and host the history of operations. of payment and the transparency and tranquility that it guarantees to the issuers and receivers of the same.