Review on Litecoin by Carlos Figueroa
Decentralized electronic currency
Litecoin with a formidable trajectory comparable to that of Bitcoin, which has become one of the most popular cryptocurrencies on the market, given its design, allows a higher level of scalability and confirmation of blocks on the network, as the case may be its developers in this At the moment, we have the vision to cover some details to be more efficient than the red Bitcoin, as well as the comfort for the requirements to mine Litecoin, although this cryptocurrency has a high equipment requirement to be able to perform adequate mining efficiently.
The availability of the currency is very high, it is possible to access it either through exchanges, through mining or simply buy it with Fiat currency, and the acceptance of this cryptocurrency in any store in the world has spread, given the transactions are Many fast than Bitcoin and the commissions it offers are almost nil, but some do not resort to this currency due to the problems recurred in the foundation of Litecoin and the announcements made by Charlie Lee, that possibly the foundation is online for 2 more years, but despite this, the development and modernization of the Litecoin network was pronounced even in these times of crisis.
One of the problems that in my opinion does not generate interest in some potential investors, is the little bullish price trajectory that the digital currency has, since its historical maximum price is not as overwhelming as main currencies such as Ethereum, Bitcoin or the Bitcoin fork That this case required BSV or BCH, which considered specific prices that incentivized small and large investors, in a way distinguish Litecoin as a boring cryptocurrency that meets the traditional requirements for stable and secure operation on the blockchain, therefore Constant development by the Litecoin developer group (Litecoin Core) is in continuous activity to offer better performance on the network.
Pros
- It is in the top 10 most popular cryptocurrencies and by market capitalization.
- Designed under the Scrypt protocol, which has a lower hash rate than the protocol protocols in SHA-256
- Accepted as a means of payment worldwide by physical and online stores.
- It has a wallet address management model that extends the privacy of the recipient.
- The currency is listed and supported by a large number of the most reputable exchanges and wallets on the market.
- The operation block creation rate is four times faster than Bitcoin's
- It currently has greater scalability and stability than the Ethereum and Bitcoin network.
- It will have a Lightning Network Daemon update, which will process more efficient and higher volume payments.
Cons
- The mining equipment required to mine Litecoin is usually a bit high due to how it is designed.
- You have some delays in redesigning MimbleWimble development on your network.
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Comments (1)
July 08, 2020
Good job, friend, I like the way you explain this cryptocurrency, I personally have a bit of ltc in my wallet and I keep it waiting for a good rise in pressure, and also a cryptocurrency that its feed is very low, I love it.
