Review on Litecoin by Japheth Ayuba
Litecoin is The Silver to Bitcoin's Gold
Litecoin is one of the earliest forks of Bitcoin and is currently considered as the Silver to Bitcoin's Gold. The coin has experienced tremendous growth and is one of the largely adopted crypto coin today probably due to its low volatility and surely due to its lower transaction fees and faster transaction confirmation which is at most 2.5 minutes and is lower than Bitcoin. The major use of the Litecoin is to facilitate Peer-to-Peer transactions and it's doing that at it's best through such fast and cheap transaction
Litecoin will sure be a Bitcoin contender but not in price because I see the coin more as a P2P cryptocurrency than an investment coin. I can only suggest the holding of this coin to business owners for their quick transaction. As the coin can be traded on many exchanges, easy selling of this crypto to it's fiat equivalent is an easy thing to do coupled with the low fees charged from such exchanges
Pros
- Litecoin is like the most successful fork of Bitcoin and is called the silver to bitcoins gold
- There is a lower fees for making transactions and a faster transaction in 2.5 minutes as compared to Bitcoins 10 minutes
- The Litecoin LTC is available to trade on a lot of exchanges and available in many Crypto cards which makes it a versatile asset that can be accessed or used
- Due to its low volatility, Litecoin is ideal for business and low transaction fees
- The coin is a mineable one through it's Proof of Work model
Cons
- Just like many other crypto, the Litecoin has a complicated address
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Comments (2)
October 04, 2020
The Litecoin project started as a fork of Bitcoin as it used the same protocol used to develop Bitcoin and when I indicated that it's the most successful, I mean it has solved some of the scalability issues faced by Bitcoin although I can't compare it to Bitcore.
Thanks for your comments
October 04, 2020
Actually litecoin has dedicated network and i think it’s wrong if we call litecoin as a fork of bitcoin, most successful fork of bitcoin is bitcoin cash (BCH), also about the rest of your review , you definitely explain that good
