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Review on Litecoin by Smith Mars
Litecoin is an open source blockchain-based cryptocurrency that works in a…
Litecoin is an open source blockchain-based cryptocurrency that works in a similar way to ETH and BTC. It’s a peer-to-peer internet currency that allows for instant to anyone in the world with very low transaction cost. It’s a decentralized payment network that isn’t managed by any central authorities.
Litecoin is currently on of the top 10 popular and actively traded coin according to CMC and is been used daily for transactions.
Litecoin has wide wallet support and is being actively devloped.
Pros
- LiteCoin is an open source, transparent and decentralized peer-to-peer internet currency that allows for instant payments to anyone in the world with a very low transaction cost. It is one of the top ten popular actively traded coin that is been used daily for transactions. Litecoin is quite popular and as a lot of wallet support available for both mobile, PC and even hardware wallet. Litecoin is actively been developed by a great team and follows a transparent release process due to it open source nature, this facilitates the independent verification of binaries and their corresponding source code.
Cons
- Being a fork of bitcoin, this makes it quite difficult for litecoin to add new innovative ideas to the project. Litecoin is currently experiencing a large number of it investors dumping it for other project like BTC, this is really bad for the growth of the project
