BITCOIN VS LITECOIN

Back in 2011 when Litecoin was first created, it was actually one of the first Altcoin in existence and was the second largest cryptocurrency by market capitalization. Litecoin is very easy to understand because it operates very similarly to Bitcoin because it was developed using a copy of Bitcoin source code also known as forking and it was designed to complete a crypto transaction quickly and cheaply. Litecoin was initially because of developer concerns that Bitcoin was becoming overly centralized to controlled and they want it difficult for large-scale mining firms to gain upper hand in mining.

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Regardless, Bitcoin and Litecoin still share a bunch of similarities. First of all, they are technically decentralized, they operate has utility coins which it considers to be like digital money and they rely on Proof of Work as their concept and they also rely on the community to supply crypto through mining. Both crypto also goes through something called halving events where about every four years, they reduce the number of coins generated and released into circulation. Bitcoin and Litecoin also have fixed supply, Litecoin is at 84 million coins whereas Bitcoin is at 21 million coins today.

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In term of the pros of Litecoin, there is actually a few. Although Litecoin is very similar to Bitcoin in many ways, Litecoin actually processes transactions 4 times faster than Bitcoin. Right now their starts are adding up to be around 2.5 minutes per block while Bitcoin takes about 10 minutes per block. The transaction fee for Litecoin is also significantly lower than Bitcoin due to the smaller Block size and faster transaction time. If you ever want to send just a small amount of Bitcoin to someone, if you could pay just factional of that, that is where Litecoin steps in with their faster and cheaper micropayment. There is some reason why I think Litecoin is bullish, one of them is CFTC affirm its stand that Bitcoin, Ethereum, and Litecoin are commodities rather than security. As you know the government does not like crypto, maybe it is because the government is realizing they could print an infinite amount of money. They don't want to lose the power of the dollar like we are seeing now, maybe they just want to weak any sort of alternative that people may want to run to next. Another reason why Litecoin might get some bullish price action later this year and early next year is because its halving event is scheduled for this upcoming August which is about 4 to 5 months away. The previous halving of the Bitcoin and Litecoin market has proceeded bull run, this could also produce a similar bullish outcome.