Litecoin – a “lite” fork of Bitcoin
We continue to get acquainted with promising cryptocurrencies and the next step is a detailed review of a coin called Litecoin (LTC). For several years in a row, this promising payment system on the blockchain has not lost its popularity and is confidently among the top cryptocurrencies. What are its features, and whether it is worth investing in a coin, I will tell you in detail below.
What is Litecoin (LTC) cryptocurrency?
The cryptocurrency Litecoin appeared in 2011 and is inextricably linked with the main cryptocurrency Bitcoin. Lite really originates from the first digital coin and in many ways is not similar to it. With the exception of small alterations that allowed the fork to find its own personality. In its concept, Litecoin is a lite version of Bitcoin. Everyone knows that the cue ball at one time ran into problems of scalability, high fees and transaction delays. Litecoin does not suffer from all this and therefore perfectly plays the role of a means of payment.
Coin founder Charles Lee, unlike Satoshi Nakamoto, is a public person. He established himself as a talented developer who in every way updates his brainchild. That is why the coin does not leave the pages of news resources, it is of interest to investors and users. According to CoinMarketCap, more than 1600% of profits could be earned on the coin rate! It seems that this is not the limit and Light can still give a profit. Today, it surely takes 5th place in the ranking of cryptocurrencies, and its capitalization exceeds $ 4.6 billion.
Особенности криптовалюты Litecoin (LTC):
Частота генерации блоков в Litecoin выше, чем в биткойнах, и занимает 2,5 минуты. Благодаря этому монета имеет более быстрое подтверждение транзакции.
- Платежная система Litecoin обладает высоким уровнем безопасности.
- Монета с открытым исходным кодом и полностью децентрализована. В то же время это не мешает Чарльзу Ли следить за своим проектом и старательно его улучшать.
- Litecoin известен низкими комиссионными в системе, которые практически равны нулю.
Окончательное количество выпущенных монет составляет 84 миллиона литов (в то время как у Биткойна есть 21 миллион монет). Из них 63 миллиона уже выпущены.
- Адреса Lightcoin состоят из 33 символов и начинаются с буквы «L» (иногда с цифры «3»).
- Атомные транзакции были совершены между блокчейном Litecoin и монетами Decred, Vertcoin и Bitcoin в 2017 году. Благодаря этому изобретению стало возможным напрямую переводить монеты из одной блокчейна в другую.
Interestingly, Litecoin is not positioned as a rival to Bitcoin. Charles Lee considers his cryptocurrency to be a complement to the cryptocurrency and at one time Litecoin was even called the “field of experiments for Bitcoin”. The reason for this was the technical updates of Litecoin, which were later introduced in the main cryptocurrency. Despite this, today Litecoin is an independent and promising coin, which has its own development path
How did the Litecoin (LTC) cryptocurrency change course?
The coin is one of the most profitable for investments, as it has already made it possible to earn 1620%. Such a profit could be obtained if the purchase of coins was carried out at the lowest rate and the sale at the highest. With the appearance on the exchanges, Litecoin was trading at $ 4.30 for 1 LTC. The lowest rate was recorded in 2015, while the coin was quoted at $ 1.11 apiece. In December 2017, an absolute maximum was reached, which amounted to $ 375.29 for 1 LTC.
Today, the price of a coin is in a downtrend and Litecoin can be purchased for $ 74. Experts say that very soon it is worth waiting for the growth of cryptocurrency and now is the time to make a purchase.
Does Litecoin (LTC) mining?
LTC coins are mined, as in the case of Bitcoin, by mining. But it has its own characteristics, due to the fact that cryptocurrencies are inherently different. First of all, for the reason that a hash algorithm called scrypt is implemented in Litecoin. Because of this, it is more advisable to mine cryptocurrency on the GPU, and not on asics.
The mining reward was initially 50 LTC, and after every 840,000 blocks it is halved. It is unprofitable to mine a coin on a PC, and even with a GPU farm it is more advisable to mine through a pool.
LTC – coin reviews, forecasts for 2019
Litecoin is confidently among the ten cryptocurrencies with the highest capitalization, and this already draws the attention of investors to it. Despite the fact that LTC is a fork of bitcoin, the payment system is interesting from a technical point of view. Its creator Charles Lee is actively introducing various upgrades, making the system more efficient and profitable. This opens up great prospects for Light that are inaccessible to many cryptocurrencies.
It was in Ltc for the first time that many innovative ideas were introduced – a coin with such a development is definitely worthy of attention. Thus, Ltc can be attributed to coins that have already been tested by time, but at the same time have not lost the prospect of a price increase.