Litecoin Review

What Is Litecoin?

Litecoin came to be within the MIT/X11 licensing. These super-speedy coins are exchanged via open source protocol, and, much like Bitcoin, are totally decentralized. People claim that Litecoin is more advanced than its sibling coin, Bitcoin, due to some technological advancements and repairs it features. These include:

  • Using segregated witness to make coin transfer very fast
  • Use of lightning network
  • Minor cost of transacting

This increases the speed of transactions between more of them can happen simultaneously. This makes Litecoin a more practical and effective digital currency to be used across mercantile systems.  There are also many more Litecoins than there are Bitcoins. Today, there is much talk over a potential upcoming Bitcoin fork. It may be helpful to consider that Litecoin was itself a fork of Bitcoin.

History of Litecoin

Litecoin came to the public in 2011. Its protocol was offered open source, and it was created and distributed by Charlie Lee. Then, in 2013, an upgrade was done on Litecoin in order to protect its continuity and ensure its security.

Another version came out shortly thereafter. This version was less expensive to use. It was given out to people who were already using Litecoin and also to those using online forums.

In the fall of 2013, the worth of Litecoin grew tremendously. It is now worth about fifty USD. It is among the most popular cryptocurrencies and operating at incredible speed.

Finally, a 2014 upgrade was done, to further perfect the currency and adjust final problems.

How Litecoin Works

Litecoin is tailored after the Bitcoin blockchain, however, so far, its SegWit usage has been one of the defining distinction between the coins. SegWit allows for incredibly fast processing of transactions.

Why Invest in Litecoin?

Litecoin is an incredibly fast-acting digital currency. Therefore, it has promise that it can be used in worldwide for everyday transactions. It can become a common currency.

  •         There are low transaction costs.
  •         It is increasing in value.

Litecoin Cost

Following the collapse of Mt. Gox, the Japanese exchange company that lost investors $450 million worth of Bitcoin, Bitcoin decreased in value.

However, Bitcoin then picked up again and continued to rise from January 2016 until now.

 

Date

Value in USD

January 2014

25.23

July 2014

8.48

January 2015

2.09

July 2015

4.07

January 2016

3.50

July 2016

4.47

January 2017

3.99

July 2017

48.93

Litecoin Clients

ReMax London

How To Invest in Litecoin

Since Litecoin is popular, it is not difficult to buy Litecoin. You can check our brokers page.

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