“Bitcoin investors: you need to watch Litecoin.” – Seeking Alpha
The crypto ecosystem is one which is growing quickly and diversly, and we’ve been discussing some different examples of that very thing. We thought it right to bring the focus today to a coin which was one of the opening acts of crypto, and is one of the most popular tokens which are traded today; Next on the list of cryptos we’ve chosen to discuss: Litecoin (LTC).
Coming on to the scene in 2011, Charlie Lee introduced Litecoin to the world. Litecoin, much like Bitcoin, is simply a decentralized currency which is traded on a secure, speedy, efficient and low cost peer to peer system. Differing from Bitcoin, it has its own cryptographic algorithm as well as faster transactions, is able to handle more volume and has more efficient storage and transfer of data because of its ability to build blocks rather quickly. LTC also has a limited supply, except at a much higher number of around 84 million, around 4 times as much as BTC. Although they differ in the blockchain technology behind them, Litecoin was intended to be a correlative coin to BTC, meaning they wanted to see it “basically be the Silver to Bitcoin’s Gold.” Thanks to certain network support, LTC has seen 97% correlation with BTC and has proven to complement the famed BTC.
Litecoin has a very inclusive community and encourages growth and innovation. They have open sourced software, meaning that anyone from anywhere can participate in the advancement and modification of the network. Similar to BTC , miners can mine for LTC and earn tokens as rewards, and those rewards are halved every 4 years or 84 thousand blocks. They also are very informative about what is currently going on behind the scenes: constantly giving stats and updates on the network and always celebrating positive change and innovation within the Litecoin operations.
LTC has been around for the past 10 years and is not going anywhere anytime soon. It was one of the first effective, supported and trusted cryptocurrencies to come into play. Litecoin , like most other digital assets, brings control back to the individual, offers efficient and secure data transfer and stays closely in tune with the most popular token on planet earth. You really can’t go wrong with this little coin; It’s made it’s place in the market. Stay tuned for more on DeFi, Crypto and other Free Market values and examples, send us some feedback and Thank you for reading!
