Review on Litecoin by Mayra Coba

Name: Litecoin
Item: Litecoin
Rating: 4

September 12, 2020

A lite version of bitcoin

What is Litecoin?
﻿
Litecoin is a cryptocurrency similar to bitcoin only cheaper as well as a Facebook Lite so to speak in short. It is very fast and light. It has a popularity that makes it enter the Top of the best cryptocurrencies for many years. Its purpose is to make transactions faster, cheaper, safer and easier.
﻿
Functions and objectives

Among the functions and objectives we can find that it offers to solve three important problems according to them in the programming of Bitcoin and among them is:

The available supply of the cryptocurrency in the market: This restricts liquidity and possibilities of the currency. Litecoin provides liquidity with its millions of LTC.

Make cryptocurrency operations fast: This is a criticism that many throw at bitcoin, Litecoin solves it.

Try to make it easier to mine your cryptocurrency: In Litecoin the average user will be able to mine LTC without so many problems.
﻿
Characteristics

This cryptocurrency has a limit of 84 million available coins.

Cryptocurrency with block generation that only takes two minutes, which is why it is faster than bitcoin.

It suffers in terms of transaction validation, it is a challenge to face.

SegWit and Lightning help improve performance, these options are in Litecoin.
﻿
Conclusions
﻿
I sincerely think that it is an enriching project but it also lacks much more potential, it has pleasant solutions in terms of stability, security, speed and much more with new features that make it more feasible than the use of Bitcoin, but as I said there are still details and This makes it necessary for the support of the community to keep this project afloat and not be forgotten.