Review on Litecoin by Sudais Quadri
Litecoin- alternative to bitcoin
Litecoin allows for the exchange of digital asset and cryptocurrencies via distributed network. It was kick started in 2011, alongside bitcoin, It can be reffered to as "bitcoin's twin". It was written with bitcoin's base code and some improvement were made like the transaction speed and volume. It is a mineable coin which can be mined on any certified pool. With litecoin transactions and payments are made easier. It is a decentralized platform, With the Litecoin code base one can create new coins and stones as it is found to be scandalous. It is backed up by proof of work consensus. This proves that you invest in litecoin with the mindset Of profit. It completed about 50 transactions per second. It comes with a low and manageable transaction fee as compared to bitcoin. It is very secure though. Lite coins can be bought using fiat currencies. It is not a well known platform but its advancement gives it an edge over bitcoin if not for bitcoin's higher transaction
Lite coin is a ready form of
Pros
- It is very fast in transaction
- it ensures scalability
- It is mineable
Cons
- it is not very popular
