Review on Litecoin by Stephen Toluwani
My Litecoin project review on its Use case
The Litecoin project has been a milestone achieving project in terms of meeting up to it's major use case of being a modal for making peer-to-peer transaction by increasing the speed of confirming such transaction in a matter of minutes and low fees charged for making this transaction. The Litecoin project native coin is the LTC. LTC currently ranks 9th on the coinmarket ranking and trades on a good deal of exchanges. The LTC currently has market value of $46 to a coin and has experienced low volatilities as compared to other coins Ranking on the top 10 Crypto on market capitalization
The coin is a mineable asset with a Proof of Work mining model and as a Decentralized coin, it's validation of bock's is carried out by the miners solving cryptographic puzzles. The project is one great one among the many other Crypto projects today although I don't see it scaling highs in terms of price so can't be viewed as an investment asset but mainly for it's P2P use case
Pros
- The Litecoin project is a Decentralized project initiated for for making P2P transaction
- The Litecoin LTC is a widely traded crypto asset on many exchanges
- It's block time is in 2 minutes and 30 seconds which is quite fast
- The LTC is a mineable asset through it's Proof of Work mining algorithm
Cons
- it's a great project. Nothing negative
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Comments (1)
January 12, 2021
Litecoin is like the light version of Bitcoin without a doubt and with all the features it has we will be able to make transactions faster. Unfortunately, there are other similar projects with the same and even improved features of this one.
