1 Level
6 Review
5 Karma
Review on Litecoin by Adrian Nameste
Litecoin is an open source, mathematically secure, global payment network that…
Litecoin is an open source, mathematically secure, global payment network that is also fully decentralized. The Litecoin team also look to incorporate technology that improves the coin’s key functions and as a result, Litecoin enjoys substantial industry support, trade volume and liquidity, it is a proven medium of exchange and one of the most established digital currencies with regards to web commerce and internet spending. Litecoin aims to facilitate an increase in everyday digital transactions and also aims to operate complementary to Bitcoin. the Litecoin Foundation, a non-profit organization registered in Singapore that strives to advance Litecoin for the good of society by developing and promoting state-of-the-art blockchain technologies.
Pros
- Bitcoin requires 95% of miners to signal they are ready to support SegWit for activation to occur while Litecoin only requires 75%. This lower consensus threshold in addition to an active founder means that it will be easier for Litecoin to push forward this change.
Cons
- In my honest opinion, I see no cons associated with Litecoin because it has all the characteristics an average Blockchain user would want with a digital currency.
