Litecoin is a digital currency created in 2011 by ex-Google engineer Charles Lee, the cryptocurrency was launch as an altcoin to Bitcoin, the aim is to ease and fix any transaction issue many users are facing with Bitcoin. It was created with the sole purpose of serving as a peer-to-peer transaction system, which permits users to make transactions or payments around the globe with low transaction fees. Charlie Lee noted the threats of flood attacks when he was creating Litecoin in 2011 and made sure to erase any trace of it in his blockchain. Litecoin aims to correct the scalability problems that Bitcoin has which means to permit more transactions to occur at a single time on the network.
Litecoin is a decentralized blockchain meaning there is no centralized authority or private ownership attached to the currency. It is free from government regulations, the market value is based solely in the hands of users. Generally, Litecoin has a fixed amount of $84 million, a volume that can never be exceeded. And at any point, the currency can surpass the volume, the currency can be crushed into smaller payments. Litecoin is securely shielded from hyperinflation due to its mining process and the currency’s predetermined cap.
Litecoin (LTC) Price Today – LTC / USD
Currently, the market cap of Litecoin is $3,645,766,304, standing strong as one of Bitcoin’s most insistent competitors. Litecoin has been able to rise above other cryptocurrencies in the market declines massively, over time its value has been able to surge and hit the highest Litecoin value in the cryptocurrency market.
Litecoin: Safe And Secure for Investment
Litecoin is a safe and secure cryptocurrency to invest in with minimal risk, as at the beginning of the year, Litecoin price has been on a steady price increase, it’s market price has been able to surge over $125 over a year. Litecoin has a simpler algorithm, its script-hashing algorithm simplifies the mining process for miners who want to access the system.
Litecoin is one of the cryptocurrencies that has been performing well in the market, the value is hitting new highs and gaining massive traders and investors. With the high rate of investment in Litecoin, it was earlier reported by Franklyn Richards that recently, the rate of Litecoin blockchain network attained a new all-time high.
Going by different research by some analysts, 80% of litecoin is already mined still yet it did not affect the performance of the cryptocurrency. Some analyst has predicted the success of the currency, stating that Litecoin has the potential to surging in the currency market capitalization due to the steady increase in its market value.
With its built-in SegWit application, transactions are swift, safe and secure. Litecoin has a better and faster transaction speed, transactions are confirmed every 2.5 minutes, shortening the waiting period for users, Litecoin offers you both speed and security. And with the bigger mining reward and performance, Litecoin value will certainly keep surging.
Investing in Litecoin is will serve its purpose for you either for a short-term or a long-term investment. Unlike other cryptocurrencies that cannot be purchased from a broker, Litecoin can. Litecoin can be easily acquired using fiat-money like EUR, GBP, and USD. This makes the process of investing easier for you as you can use PayPal, bank transfer, debit or credit card.