Review on Litecoin by enes Keskin
I loved it.
Litecoin and Bitcoin difference is not that significant (letting alone price, of course). The main technology principles are almost the same. Yet, Litecoin has several key differences.
First of all, it is the transaction capacity. Litecoin network is able to perform 56 transactions per second, while Bitcoin is limited to 4-7 transactions per second. Indeed, Litecoin’s 56 TPS are not that impressive compared to modern blockchains with thousands of transactions possible (like Zilliqa). Yet, Litecoin is much faster than Bitcoin. Besides, even with its limited performance, Bitcoin has significant adoption as a global digital currency.
Secondly, it’s the mining process. Though both Bitcoin and Litecoin utilized Proof-of-Work algorithm, Litecoin is more ASIC-resistant. That means that Litecoin mining process is more open to users with ordinary computers, and not to owners of specially designed mining hardware (ASICs). Litecoin block time is near 2,5 minutes (so each new Litecoin block appears 4 times faster, than Bitcoin’s).
Pros
- In our opinion, the best thing about Litecoin is its perfect balance between technology, adoption, and liquidity.
Cons
- There is nothing to say.
