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Review on Litecoin by Marlena Kaźmierska
Silver of crypto
Litecoin was launched on 7th October 2011 by Charlie Lee, a former employee of Google. The network of the Litecoin went live on 13th October 2011. It works independently of the central bank of any country.
It is quite similar to Bitcoin but Litecoin has adopted various features such as the Segregated Witness. These factors and features can be considered an improvement over Bitcoin and reduce the problems in the network and enhance the speed of carrying out the transactions. In May 2017, Litecoin was the first cryptocurrency to adopt the Segregated Witness.
Pros
- Litecoin offers faster processing and confirmation of the transactions as compared to the Bitcoin network. It is actually four times faster than the Bitcoin.
- Litecoin is highly effective and the cost of transaction involved in the Litecoin are quite lower and effectively managed.
Cons
- The SegWit which was one of the key features of the Litecoin has been adopted by the Bitcoins and hence Litecoin lost its uniqueness.
