Cripto currency | Features and possibilities of Litecoin

Summary

Litecoin is the P2P Internet currency. It is made by improving the bit coin. With a nearly free commission, you can make immediate payments to anyone in the world. It is a completely distributed type different from the centralized type, it is an open source global payment network.

Mathematics ensures the safety of the network and enhances the individual's financial management ability. Compared to major mathematics-based currencies, transaction confirmation time is short and storage efficiency is excellent. As you can see from the results of the industry's tremendous support, transaction volume, current assets, etc., light coins act as a commercial transaction media complementing bitcoin.

Features

Name : LTC

date :October 2011

Supply Amount : 84,000,000

Algorithm : Proof of work

Topics

Let's talk about Litecoin. 

Easy to use than Bitcoin

Litecoin are often compared because they are made by improving Bitcoin.

In particular, transactions are often compared with transactions, whereas transactions are performed once every ten minutes, while Litecoin are shortened every 2.5 minutes, thereby improving storage efficiency. 

"4 times" is a keyword

 The total number of Litecoin is four times the total number of Bitcoin. 

The total issue volume is 2,400,000 BTC for Bitcoin and 8,400,000 LTC for Litecoin. The reward for mining each Litecoin block is 50 LTC. And the generation rate of Litecoin is reduced by half every 840,000 blocks. This is also 4 times the Bitcoin. Since the Litecoin block is generated at 4 times faster than the bitcoin block, the currency inflation of the litecoin is made to be in the same orbit as the bitcoin. 

Function as settlement currency

Various currencies are issued for cripto currencies, but there are not many things that are still in the process of being implemented and can be used in real society. Meanwhile, Litecoin are one of the few coins that are also used in real society. It is a size feeling as much as it is still on the official website, but I feel that the possibility of expanding in the future is very hidden.

Possibility of Litecoin

The fact that transaction creation time is reduced to 1/4 as compared with bitcoin is considered to be a big feature as well. It is expected that bitcoin will have scalability problems and become more difficult to use as the number of users increases.In the future it seems that usage of litecoin will expand as an alternative currency for bitcoin. As long as the scalability of bitcoin is not eliminated, there is a great chance that the use of litecoin will expand.

Whether the demand as much as a bitcoin occurs or not, it may be necessary to pay attention to the growth of litecoin from now on.