What is LiteCoin! Bitcoin Vs Litecoin!

If we say Bitcoin is the next gold, can we
say Litecoin is the next silver? How does Litecoin work? Why you should consider learning about Litecoin? In today's episode, we are going to discuss
about one of the greatest cryptocurrency, which is, "Litecoin. Since its creation, Litecoin has proven, to
be a great medium of commerce complementary to Bitcoin. What is Litecoin? If we consider Bitcoin as "digital gold",
we can definitely say that Litecoin can be considered as "the digital silver". Litecoin offers a peer-to-peer internet currency
that empowers instant, almost zero cost payments around the globe. It has been created as an open source, global
payment network respecting blockchain conditions to be fully decentralized and without any
central authorities.

Litecoin has also a great and secured network
and helps individuals to control their own finances. Blockchain industry promotes the control of
someone's finance, and so is Litecoin. Features of Litecoin promotes faster transaction
confirmation than Bitcoin and improved storage efficiency to be used on a larger scale than
BTC. History of Litecoin Litecoin was founded on October 7, 2011 by
Charlie Lee, a Google employee and former engineering Director at Coinbase. Litecoin was used as a fork of the Bitcoin
core client, differing by having a decreased block generation time. In 2017, Litecoin became one the first cryptocurrency
to be in top 5 and that has remained stable since its creation, along with Bitcoin. In May 2017, the first Lightning Network transaction
was completed to transfer, 0,00000001 LTC from Zürich to San Franscisco under a second. The point of Litecoin of Litecoin is to transfer
P2P CASH that allows users to send, receive, and make instant payments at almost zero costs
all around the globe. Did you know they are currently more than
62 million LTC in circulation, representing, almost 75% of all Litecoins that will ever
be mined.

This leaves roughly 21 million coins left
to be mined up until 2142. Did you also know that Litecoin has its halving,
the halving of Litecoin happens every four years as the Bitcoin's halving. The block speed is 2.5 minutes, with around
576 blocks generated per day. Charlie Lee, founder of Litecoin, mentioned
"When the mining rewards get cut in half, some miners will not be profitable and they
will shut off their machine. If a big percentage does that, then blocks
will slow down for some time. For Litecoin it's three and a half days before
the next change, so possibly like seven days of slower blocks, and then after that, the
difficulty will readjust and everything will be fine." Why is Litecoin different from Bitcoin? The Litecoin network aims to process 4 times
faster than Bitcoin network. It aims to process a block every 2,5 minutes,
rather than 10 minutes for Bitcoin. Litecoin works as PoW (Proof-of-Work), using
scrypts PoW algorithm. Litecoin as a method of payment is made to
be used on a wider scale as Bitcoin.

Is Litecoin better than Bitcoin? LTC vs BTC Litecoin isn't as famous and established as
Bitcoin but its technology may be used better for spending. The Litecoin transaction is four times faster
than Bitcoin's… and fans among Litecoin network often say that the Litecoin Transaction
time makes it a better currency to use because it is fast. What is the main difference between Bitcoin
and Litecoin? The most technical difference resides in the
cryptographic algorithms that they both use. Bitcoin uses the longstanding SHA-256 algorithm,
whereas Litecoin uses a comparatively new algorithm known as Scrypt. Is Litecoin cheaper to send than Bitcoin? Litecoin is definitely cheaper to send than

If you want to know more about Litecoin, we
will love to share our knowledge and research. We are always inviting our subscribers and
followers to always do dilligent research before investing. You should be aware of where you invest your
money. This video shouldn't be considered as financial
advise but as a first step or indication to start researching for future investments. What do you think of Litecoin? Does Litecoin have the potential to grow by
10x? 100X? Or even more??? As always, we appreciate your immense support,
"hit like", "comment" and tell us what you think of Litecoin. SEE YOU SOON and don't forget to SUBSCRIBE
to the Finance Trigger, your weekly financial news!.

You May Also Like