Review on Litecoin by Joseph Bello
"LITECOIN" The Pathfinder To The World Of Crypto
Litecoin is a crypto project created by Charlie Lee ,since it's existence it is known to be one of the the leading competitors of Bitcoin with certain differences and similarities between the two projects. There are many advantages attached with using Litecoin which I will be explaining in my review.
By using Litecoin project and carrying out intensive research about it i got to discover that it makes use of almost all the features that can be seen on Bitcoin ,thou they also make improvements on some other features of Bitcoin which needs some adjustment,the features they improved on includes their transaction speed as Bitcoin's transaction are very slow when making a comparison between the the two projects,this has enable me to carry out more transactions on Litecoin within a short period of time.
Litecoin also has it's own unique coin, the coin is not a stable coin( just like Bitcoin) which makes it exposed to increase and decrease in it's trading price thereby reducing its liquidity. Though it may be argue that Litecoin's price which is about $140.6 is quite low when compared to that Bitcoin whose price has drastically increased to about $38,000 ,but the rate at which Litecoins are mined are 10 times greater than that of Bitcoin, also the total amount of Litecoins in circulation is four times greater than the total number of Bitcoins in circulation.
In few years to come I believe Litecoin's market value will greatly appreciate and level up with that of Bitcoin and will soon be universally accepted as a means of payment to merchant just as Bitcoin.
Pros
- The platform has a greater & faster transaction speed than Bitcoin
- The total Litecoins in circulation are many
- About 0.001 Litecoin are required to carry out any transaction no matter the
- It has improved on some of the flaws of other projects like Bitcoin
Cons
- It is not yet accepted universally as means of payment
- It's trading value is not that high
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Comments (1)
February 04, 2021
The total supply of LTC cryptocurrency in circulation is decreasing day by day. This is a scary situation. Because the prices are flying one and falling a lot. I thought it would be very correct to publish this subject in your review. I hope he had useful information.
