Review on Litecoin by ahmet aslan
LTC EVULATION
Litecoin is the Bitcoin derivative, as it was created as a fork of the core Bitcoin source code. A peer-to-peer open source decentralised cryptocurrency, Litecoin enables instant and commission-free payments around the world.
Litecoin can be mined. Unlike the Bitcoin’s protocol (SHA256), Litecoin uses a scrypt in its proof-of-work algorithm. Due to the scrypt algorithm, Litecoin is considered safer than Bitcoin.
Litecoin algorithm allows the production of 84 million LTC, which is four times bigger than Bitcoin’s total supply (21 million).
Litecoin transaction time is 2.5 minutes, which is four times faster than Bitcoin’s 10 minute transaction time. Therefore, Litecoin enjoys the reputation of a perfect cryptocurrency for online shopping and internet transactions.
Pros
- versatile project
- innovator
- its progress is good
Cons
- less investment
- mismanagement
