Litecoin is a crypto currency shown on International market more, than 6 years ago. It can be explane as “liitle brother” of Bitcoin. Bitcoin is the oldest currency, but Litecoin is also not as youngest, as we see in market and is now on Top 10 and sometimes reach Top 5 on Crypto market.
Whats are advantages of Litecoin?
Litecoin is faster, than Bitcoin. We are talking to transfer process. Litecoin provides quicker confirmation. The Network aims to process blogs every 2.5 minutes instead of every 10 minutes, as is the case with the Bitcoin crypto currency. This, according to system developers, allows faster transaction confirmation.
Litecoin is more than 50 times cheaper, than Bitcoin at the moment. We see on global drypto market, the price is 164$, but Bitcoin is near 8650$, so many buyers with not much financial budget, can buy 1,2,3,4 or more coins for example.
Litecoin can produce and process a larger number of payments, which reduces the potential shortage that may occur in the competitive leader Bitcoin currency, referred to as a problem by some experts.
When we see the trade market, we can see place 5 for Litecoin, after Bitcoin, Ethereum,Ripple and BitcoinCash. Market cap for this currency is 9.16 billions $ and Bitcoin Market Cap is 146 billions $ (March 2018).
Can you dig Litecoin?
Yes, there are people making digging and making Litecoins, but it’s not an easy work, as most experts saying. The way the litecoin network ensures that only one block is available is to make block production very difficult, instead of simply producing blocks as desired, the winning works must make a cryptographic “hash” of the block, that meets certain criteria, and the only way to find one is by computing many of them until you have lucky to find one that works. Diggers who make successfully hush, get reward of 25 litecoins.
Sometimes, the trade of Litecoins against the US currency may be much more interesting, profitable and less expensive compared to the mining of crypto surrency, because it’s not easy to dig and can also calculate the energy expenses – electricity.
The Lightnet Network operates and exists independently of any central bank, unlike traditional currencies such as the dollar and the euro.
The Litecoin Network does not have a central administrator, which makes it a decentralized digital platform. Its one of the top crypto currency and people who are interested in the crypto market can definitely pay special attention to Litecoin.