Litecoin (LTC) is a decentralized peer-to-peer cryptocurrency Just like Bitcoin. It is called the silver to bitcoin’s gold.
Like in the real world, Bitcoin is more difficult to move at this point. Litecoin in the other hand is much faster and cheaper.
One of the pro’s for Litecoin is that it is very innovative. It adopts new technologies like Segregated Witness and it has been testing the first Lightning Network transaction that was able to send 0.00000001 LTC (also called 1 Litoshi) from Zurich (Switzerland) to San Francisco (USA) under 1 second. So litecoin is very fast.
Litecoin is bit like the test net for Bitcoin. Bitcoin is already faster than before because of the applied Segregated Witness. Now they will be adding the lightning network as well. This will cause a huge uptrend for Bitcoin once this is applied.
Litecoin has the same purpose as Bitcoin although there is a difference in total available coins that there will ever be. Litecoin has 84.000.000 coins a posed to Bitcoin’s 21.000.000 coins. Litecoin’s verification period is 2,5 minutes. This is 4times faster dan Bitcoin which is 10minutes.
The price of sending money is a lot cheaper for Litecoin than it is with Bitcoin. Imagine buying a coffee at your favorite coffee shop with Bitcoin or Litecoin. With Bitcoin you can have an average transaction cost of $5 instead of $0.09 for Litecoin.
Does all of this mean that Litecoin is better than Bitcoin? Well... that is not important. Like I said before, in my opinion, Litecoin is paving the way for Bitcoin. According to Charlie Lee, who is the founder of Litecoin, he says that there are a lot huge things waiting to happen for litecoin in 2018. Here is what he said on 20 December 2017:
- Merchant Processor
- Popular online wallet
- Goods trading platform
- One huge unexpected surprise
In my opinion, litecoin could easily go over $1.000 in 2018. The Litecoin Queen, which is a huge supporter of Litecoin and other coins with high potential, suggest that Litecoin can even go between $5.000 and $10.000. This means that Litecoin could minimal go times 20 according to her.
The information above is my only opinion and should not be seen as investors advice. Please share your vision and upvote please.