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Review on Litecoin by QUAN VU VAN
Litecoin processes blocks every 2.5 minutes, instead of the 10 minutes taken…
Litecoin processes blocks every 2.5 minutes, instead of the 10 minutes taken by bitcoin’s blockchain. There are pros and cons to this processing time: there’s a higher probability of orphaned blocks, for example. On the positive side of things, Litecoin’s faster processing time means a greater resistance to a double spending attack over the same period as bitcoin. However, total work done is also a consideration – so if the network has 10 times less computing work done per block than bitcoin, then bitcoin’s confirmation is about 10 times harder to reverse – even though the Litecoin network can add confirmation blocks at a rate four times faster.
Pros
- Litecoin has remained steady as the world’s fourth most popular cryptocurrency (by market cap). The only currencies ahead of Litecoin in market cap are bitcoin, Ethereum, and Ripple. With a market cap of over $2 billion, Litecoin has grown from a small bitcoin fork project into a giant of the digital economy. You can learn more about Litecoin by visiting Litecoin.org today.
Cons
- Litecoin, a digital currency founded two years after Bitcoin, has shot up more than 8,000 per cent in the past year, a faster rise than the price of Bitcoin's which has topped $19,000 from around $1,000 in January. Litecoin shot to more than $325 on December 11, up from around $4 at the start of the year. However, it has fallen back to about $120 since then.
