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Review on Litecoin by Xmr Lee
Litecoin was founded in 2011. Created by Charles Lee, an engineer who later…
Litecoin was founded in 2011. Created by Charles Lee, an engineer who later helped build Coinbase, the leading cryptocurrency exchange, Litecoin is based on the same code as bitcoin but with a few tweaks designed to address two of its predecessor's limitations: transaction speed and access to the mining process. It has a capacity for faster transactions -- a potential advantage in and of itself, which also provides for a different set of use cases than bitcoin. And it still offers the potential for profitable mining, unlike
Pros
- Litecoin is mined using the Scrypt algorithm, which is rooted in mathematical computations that are simpler than those used by bitcoin's SHA-256 algorithm. As a result, in contrast to the specialized, super-expensive, energy-intensive mining rigs required to mine bitcoin, you can mine Litecoin with a decent laptop or desktop PC, especially if it's tricked out with a powerful graphics card.
Cons
- Development seems to be on hold for now as nothing has been deployed In a while.
