Difference between revisions of "LiteCoin"
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'''LiteCoin''' is probably the next-best known [[cryptocurrency]], after [[Bitcoin]]. It also fittingly boasts the second largest market in crypto-currency. This alt-coin was developed by Charles Lee. | '''LiteCoin''' is probably the next-best known [[cryptocurrency]], after [[Bitcoin]]. It also fittingly boasts the second largest market in crypto-currency. This alt-coin was developed by Charles Lee. | ||
===Value=== | ===Value=== | ||
| − | In | + | In 2017, the value of LiteCoin increased dramatically. For example, 1 LTC was valued at $3.877 in October 2016. Just over a year later in November 2017, one Litecoin was valued at about $61.73. |
==Advantages== | ==Advantages== | ||
Revision as of 00:16, November 14, 2017
LiteCoin is probably the next-best known cryptocurrency, after Bitcoin. It also fittingly boasts the second largest market in crypto-currency. This alt-coin was developed by Charles Lee.
Value
In 2017, the value of LiteCoin increased dramatically. For example, 1 LTC was valued at $3.877 in October 2016. Just over a year later in November 2017, one Litecoin was valued at about $61.73.
Advantages
LiteCoin is introduced and verified much more quickly that Bitcoin. Verification for a Bitcoin transaction can take from ten minutes to several hours. On average, a LiteCoin transaction takes about two and a half minutes.[1]
Disadvantages
LiteCoin is less well known than Bitcoin, so it may be accepted in fewer locations. Also for the same reason, there are fewer transfer nodes. This is believed by some to make the system less secure than Bitcoin.[2]