16.8 C
London
Monday, July 22, 2024

What is known about Litecoin (LTC)?

Must read

- Advertisement -

New cryptocurrency holders can be surprised at how many digital assets are presented. Perhaps the most popular in the application https://xbitcoin.club/ will be Bitcoin (BTC) and Ethereum (ETH), but Litecoin (LTC) is often among top -end. And this is her well -deserved place. Many cryptocurrencies are hidden by an interesting story and the name of its creator, although not everyone was so largely lucky as LTC, and that’s why.

Cryptocurrency Charles Lee

The first thing to remember is that bitcoin is the first cryptocurrency, and all the currencies that appeared after becoming altcoins. Such a fate was also expected by Litecoin (LTC), which is not surprising. After all, none of the creators claimed the championship in the world of cryptocurrencies, although many are ready to fight for value, that is, use as a payment product. And many cryptocurrency enthusiasts were not always ready to choose BTS, although Bitcoin is still considered one of the most popular cryptocurrencies used as a payment product.

It is much easier to make a cryptocurrency known if there is a crypto – influencer who is ready to stand for her mountain. This is Satoshi Nakamoto and Vitalik Buterin. And Litecoin has a creator with whom this altcoin is associated. Many cryptocurrency holders listened to his opinion and were ready to enter into a discussion with him, but his opinion was considered really valuable in the world of cryptocurrencies. This is Charles Lee, who in 2011 presented his cryptocurrency.

Charles Lee admired Bitcoin, so he introduced a currency, which largely exceeded Litecoin. Lee managed to remove some shortcomings of bitcoin, which is not so easy to do, given the fact that new cryptocurrency projects appeared, competing for the attention of cryptocurrency holders. 2 years after the release of Litecoin became so popular that Altcoin moved along with bitcoin or stepped on his feet. In 2016, she became the second in market capitalization currency, after bitcoin, of course.

Of course, like Bitcoin, Litecoin is characterized by anonymity, decentralization, accessibility, which are important advantages of cryptocurrencies in principle, if we compare them with fiat or other electronic fees. But these are the characteristics that combine Litecoin with Bitcoin.

  • All transactions using Litecoin should contain the letter L. is 33 signs, which are a characteristic of the fact that the holder deals with LTC. In BTC, the transaction consists of a different number of signs – from 27 to 34 signs, and numbers will be in the first place.
  • LTC mining is considered faster than bitcoin. If 25 LTC requires about 2 minutes, then in the case of bitcoin it is as long as 10 minutes. The difference is significant, whatever one may say.

If Bitcoin is compared with digital gold, then Charles cryptocurrency Lee can definitely become digital silver, which is explained by both the speed and the availability of the transaction. Since these are really cheap transactions. Although Litecoin now lowers, it rises in the rating of top cryptocurrencies according to the indicator of market capitalization, it is still cryptocurrencies in the top 10 or the top 20 of the most popular cryptocurrencies.

More articles

- Advertisement -

Latest article