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Review on Litecoin by Muhammad Shakhawat Hossain
Litecoin($LTC) is a decentralized peer-to-peer cryptocurrency created in…
Litecoin($LTC) is a decentralized peer-to-peer cryptocurrency created in October 13, 2011 by Charlie Lee. Litecoin was inspired by Bitcoin and is similar in many ways.Litecoin’s success definitely is in the hands of Bitcoin and the successful integration of the Lightning Network. Litecoin is currently struggling trying to recover from the fallout from LitePay, which was supposed to help Litecoin reach more users.
Pros
- Litecoin is an open source project.It has the capability and flexibility.It is considerably faster than Bitcoin.It represents a cheaper option for people looking to perform transactions, with an almost zero transaction fee compared to Bitcoin.There are atomic swaps between LTC/BTC.All hardware wallets support Litecoin.
Cons
- People are still waiting for a counter-move now that Bitcoin added SegWit to its catalog of offerings. With that development, Litecoin lost one of the values that made it different.Litecoin market will be somewhat damaged until Bitcoin’s scaling problem is solved
