Litecoin was first developed by Charlie Lee, MIT graduate and an ex-Googler, on 7th October 2011. In eight and a half years, it has been successfully established as the major part of the cryptocurrency industry. The Litecoin was designed with the aim of the scalable and faster alternative to the Bitcoin.
It is also a lighter alternative to the Bitcoin; therefore, it comes with improved speed and abundant in availability. Due to this property, jual beli litecoin takes lesser time due to reduced block generation time of 2.5 minutes in comparison to that of the Bitcoin, which is 10 minutes.
The open software platform
It is a peer-to-peer Internet currency that enables near-zero cost and instant payments all across the globe. Litecoin has no central authorities, and it is an open-source, global network pf payment that is fully decentralized. It features a secure and faster transaction which empowers you to control your own finances. It was released under the license of MIT/X11, which gives the individual the power to run, modify, and copy the software and to distribute, at their option.
The Pros
- Faster
Litecoin is way faster than Bitcoin in terms of time taken in block generation time. It takes only 2.5 minutes to perform a transaction, while bitcoin takes 10 minutes to deliver similar work.
- Cheapest Option
Wherever around the world, you are looking for payment; you can jual beli litecoin with almost -zero cost.
- Open Source
An open-source cryptocurrency under a specific license which gives you the authority to run and modify your own software. Also, it is capable of implementing useful and relevant technological improvements.
- Straightforward
As it uses a new proof of work algorithm. The mining of Litecoin is more straightforward in comparison to Bitcoin.
- Huge Supply
Today the estimated total supply of Litecoin is around 84 million, which is enormous in comparison to its peers.
- Enhanced Security
Due to faster transaction processing, hackers get very little time-window to attempt a double-spending attack, which makes this system less susceptible to hack.
The Cons
- The moment Bitcoin adopted the SegWit update, the Litecoin started facing one of the toughest challenges. Users have full hope in Litecoin to comeback with more substantial features to give a challenge to the Bitcoin. But the Litecoin didn’t stand on their hope yet.
- Also, sold out of all the shareholdings by the founder Charlie Lee is the big setback for Litecoin. It is a matter of losing enthusiasm among the user towards Litcoin. However, a company is always way more prominent than an individual, and there are more options due to which people still believe in jual beli litecoin.
The Features
- The Blockchain
Lightening, Frequent block generations, as well as Segregated witnesses, makes this platform to bear transactions in large volume without making any alteration to the software.
- Extraction
If you use the Scrypt algorithm, you don’t need to worry about using the AISIC-based hardware during extractions of Litecoin.. Due to this technology, the Litecoin produce four-time what Bitcoins can annually.
- Integration with Industry
The Litecoin is fully integrated with digital currencies. Due to which it receives massive support from its loyal users.
