Long
Hi everyone!
I’m glad to see you on our tradingview blog. Today we are reviewing Litecoin.
What is the reason this cryptocurrency had such success? How did it come to the market? Let’s see.
Creation
The cryptocurrency was officially launched in October 2011 by the company member Charles Lee. He took the bitcoin’s original code and applied some modifications to it. The system is written in C++ language. Currently, the LTC developer team consists of 6 people. The full LTC code is released and is readily available on Github.
Why choose Litecoin?
It is essential to compare to LTC because they are both successful and very similar to each other. Litecoin’s modifications of bitcoin’s original code allow the coin to be more practical than . For example, LTC transactions happen four times quicker compared to . That is because the blocks are generated four times faster. This particular characteristic is significant, because, when talking about the general cryptocurrencies disadvantages, people say that the speed of the transactions is very slow. Such an improvement makes a big step towards full integration of cryptocurrencies into casual life.
Litecoin uses the MIT / X11 license, which means that any user has the right to run, modify and copy the code. Such a structure can help other users to write the code which in the end can be more effective than Litecoin’s. This allows the general market to develop. Such behavior of the creators can be viewed as altruistic because by providing full access to the code, they may potentially lose money. LTC’s modifications, in theory, can be more effective than its predecessor, which will force the users to switch to the alternative. Based on these actions, you can tell that you can trust the developer’s team, as the project’s aim is not only to earn money but to develop the general market as well.
LTC’s structure
Just like any high currency, Litecoins can be encoded to make sure that they are secured.
LTC team has released a particular software which allows the user to make and track transactions and check your LTC balance.
As it was said before, the Litecoin is handier than the . The reason is that LTC allows four times more coins to be stored per block. The developer team claims that 84 million Litecoins are going to be released. This is also four times more than the total amount of .
At the moment this review was written, Litecoin dropped to the place in TOP-10 and keeps falling together with the cryptomarket. What’s coming next? Growth or decline?
Zorax knows the answer.
How does that work?
We use AI Zorax to analyze more than 200 factors basing on which we can predict the future of a coin. To learn more, watch the video –
Note: The AI algorithm does not give accurate forecasts and guarantees concerning the coin price changes and can make a mistake.
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Published at Wed, 12 Dec 2018 11:13:48 +0000