Review on Litecoin by Abraham Jeremiah
A better option to Transaction fees
Using a more efficient mining model for securing it's network, the Litecoin project offers on of the fastest way of transaction with a lower fee. Litecoin has been one of the most successful and earliest cryptocurrency project that has achieved worldwide adoption and usage. The coin is really uses for what it offers for speed although many competitions are fighting to edge out Litecoin from it's game.
The project has experienced no security hack since inception as it uses a Proof of Work model to protect it's network. It is very secured and I don't think one can be expecting a breach. It is very decentralized and this makes it non vulnerable to a 51% attack. After being recommended as an option by a friend Litecoin has been my major coin for making transactions especially from exchanges that charge high fees.
Pros
- A cheaper method of interacting with cryptocurrencies
- Faster transactions can be made with Litecoin
- Supported by many exchanges and wallets
- It is a very secured network. No breach or 41% attack experienced since inception
Cons
- A lot of competitions will edge Litecoin out of its game
