“Is Litecoin (LTC-X) different than other cryptocurrencies like Bitcoin?”
Prepared by Lorimer Wilson, editor of munKNEE.com – Your KEY To Making Money!
[Editor’s Note: This version* of the original article by Ilir Gashi has been edited ([ ]), restructured and abridged (…) by 24% for a FASTER – and easier – read. Please note: This complete paragraph must be included in any re-posting to avoid copyright infringement.]
“Yes, and here are eight reasons why:
- is not in competition with Bitcoin.
- It has a different mining algorithm, value proposition, branding and purpose that sets it a part from Bitcoin.
- In fact, Litecoin’s easier use as a payment system acts as a compliment to Bitcoin’s store of value proponent.
- has 4x as many coins as Bitcoin…
- It keeps Litecoin more affordable. Often people want to invest but they see Bitcoin being too expensive so Litecoin is aimed as a “lighter’ alternative.
- transactions are 4x faster than Bitcoin.
- It takes Bitcoin 10 minutes to generate a new block of coins, whereas it only takes Litecoin 2.5 minutes. The faster block time of litecoin makes it faster and reduces the risk of double spending attacks.
- has a fast well established network.
- …For most of Litecoin’s history the hashrate has been relatively high and secure.
- is fully supported by GoCoin,
- a growing merchant payment processor used by thousands of merchants, as well as other processors such as coinpayments, Asmoney, Alfacoins and Coinify.
- has significant liquidity.
- …The speed, liquidity and value of Litecoin is useful to traders seeking arbitrage opportunities between exchanges.
- uses the Lightning Network as a method of increasing transactional capacity.
- has the possibility of utilizing sidechains for smart contracts without the possibility of corrupting the original non-turing complete blockchain.”
(*The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.)
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A note from Lorimer Wilson, owner/editor of munKNEE.com – Your KEY to Making Money!
“Illness necessitates that I spend less time on this unique & successful site so: