1 Level
7 Review
3 Karma
Review on Litecoin by Chris McDavid
Litecoin
Litecoin is the first altcoin. It is a Bitcoin fork created in 2011. The coin was supposed to be more accessible for the users than Bitcoin: quicker transactions, easier mining, blocks get found x4 times quicker. Litecoin has a huge presence on the market, the price is highly volatile (e.g. the price reached $92 in April 2019 while it was only around $24 in December 2018).
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Pros
- Potentially compatible with the Lightning Network
- Available on all huge exchanges
- Compatible with all multicurrency wallets
- Significant Market Cap
- Relatively quick transactions
- Low fees
Cons
- Charlie Lee (the founder of Litecoin) sold all his litecoins at all time high
- The lack of innovation
