Litecoin, an open-source software, was launched in April 2013 by Charlie Lee. Its latest release took place on the 26 of May 2019. In regards to speed, Litecoin is much faster than Bitcoin in having processed a block at the time duration of 2.5 minutes. The time Bitcoin processes a block is approximately 10 minutes, thus making Litecoin faster than it. Litecoin has a high trading volume, which implies that finding buyers to sell the coins comes with so much ease. It also had an improved storage efficiency and a bigger total token supply than Bitcoin. These are part of the reasons Litecoin is most investors’ choice of the coin in the industry.
There is no way Litecoin would lose its value in the next five years making it a good choice for investment. It has been predicted that Litecoin value for 2021 would grow from its present sixty dollars to three hundred dollars. This cryptocurrency is a good choice of coin because it allows people to make transactions with low fees regardless of their location anywhere in the world. Litecoin has been proven to be commercially complementary to Bitcoin. Its core coding structure is said to be similar to Bitcoin.
Litecoins users are Usually rewarded with 12.5 new litecoins on every block, and this gets halved roughly every four years. This cryptocurrency is a very safe and secured coin. It has no threat of flood attack, unlike Bitcoin, that was under such attack in 2015. However, it is saddened that Litecoin has a big volatile problem, thus making a short term investment of Litecoin a very risky operation. A long term investment is a hit with Litecoin.
