Review on Litecoin by Davis Marvel O'cho
Litecoin, the currency of the future
Litecoin provides faster processing of information. Transaction blocks are checked and updated every two minutes. This virtual currency plays a lot on the community aspect. On the official site you will find many ways to socialize around this currency, twitter, forum ... You will be able to read testimonials on mining or the sites where to spend litecoins for example. On the one hand, it allows us to find an answer to our questions whether technical or not. On the other hand, it strengthens the feeling of belonging around the digital piece
Pros
- Like Bitcoin, Litecoin is a digital payment system using open source software, offering a fully decentralized peer to peer cryptocurrency.
- Litecoin is a more practical currency because it allows much faster transactions. If it is unrealistic to consider Litecoin as a direct competitor of Bitcoin for the moment, it is however a good alternative to facilitate current transactions.
- Transaction fees close to zero
- Secure and accessible financial management
Cons
- The organization’s business model is based primarily on donations. Other sources of financing (sale of derivative products) do not bring Litecoin more than $ 10,000.
- Events like the Litecoin Summit represent a huge economic loss
