Review on Litecoin by Shahana Parveen Khan
Litecoin Review
Litecoin was created by Charley Ley. It is a peer to peer cryptocurrency and draws a number of foundational similarities with bitcoin. While Bitcoin is considered as gold, litecoin can be considered as a silver as it is a lighter version of that of Bitcoin.
Just like some apps need lots of high quality network and data speed, lots of storage and complicated usage, the creators comes out with a solution of using lite version of such applications which requires lesser storage and data also simplifies usage, in this way litecoin also being the light version of Bitcoin with the similar features but it can be easily mined and stored compared to Bitcoin and also the value of litecoin is not so less compared to bitcoin
It is very popoular and demanded and also very profitable and user friendly. Considering the progress of litecoin it can be predicted that it has a very bright future. It is accepted worldwide especially among the merchants. The total circulating supply is also quite high. Overall Litecoin has a promising future.
Pros
- Better Scalability
- No tansaction fees
Cons
- Mining takes longer duration
- Branding issues
