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Review on Litecoin by Ganiyu Yisa
Litecoin is a distributed, open-source, cryptographic quality that makes peer…
Litecoin is a distributed, open-source, cryptographic quality that makes peer-to-peer transactions faster, easier and cheaper.
Unlike Bitcoin, this has been achieved in recent years.
Litocoin was founded in 2011 by Charlie Lee, a former Googler looking for a solution to some of the problems in the Bitcoin network.
One of them was Bitcoin's high transaction time. These long trading hours have left the candidates as potential trading tools for small payments. To solve this problem, Lee decided to reduce the blocking time of the Litecoin network
Pros
- Normal transactions on the Litecoin network are completed within minutes of shipment and the average purchase price as of March 30, 2018 was reported at approximately $ 0.22. This is one of the places where Litecoin uses real coins in the real world and can be used to pay money and transfer value to others as well as digital wallets.
Cons
- Once lighting network is activated on bitcoin, there wouldn't be any use for litecoin has bitcoin will be on par with litecoin on speed and transaction fees which are it's main selling point
