What is litecoin And Why does Its

matter today?
Litecoin is a peer-to-peer cryptocurrency and open source software project released under
the MIT/X11 license. Litecoin is almost identical to Bitcoin, with two differences being the
total supply of coins, 84 million compared to 21 million for Bitcoin, and a different proof-of-
work algorithm.
The Litecoin blockchain is the longest of all altcoins by a large margin.

What are the key differences between Bitcoin and

litecoin?
The primary purpose of Litecoin was to improve upon Bitcoin by using an open-source
design for peer-to-peer internet currency with no central authority overseeing it. Under this
system, transactions take 10 minutes for processing or more while new blocks are issued
every 2.5 minutes on average which prevents double-spending while making them faster
than Bitcoin transactions.
Mining is also supposed to be ASIC resistant which allows ordinary users with access to
cheap electricity to mine profitably unlike in the case of Bitcoin where only large investors
can afford ASIC mining rigs. This process is also said to be fairer because any individual can
get involved without having to invest large sums of cash. Litecoin also has larger blocks than
Bitcoin which allows more transactions at a time.

The cryptocurrency was created by Charlie Lee, an ex-Google employee and former
Engineering Director for Coinbase. The Litecoin network is scheduled to produce 84 million
coins, 4 times as many currency units as the total number of Bitcoins that will ever exist
(although until 2025, around half of these coins are yet to be mined). The reason behind the
production of this much coin supply is due to its small price per unit compared with other
cryptocurrencies. The fact that there are very few units makes Litecoin similar in
denomination to gold it's not practical for day-to-day use. This makes Litecoin comparable to
silver in price rather than Bitcoin which is more similar to gold than silver.
.

Should I buy Litecoin?

If you want to invest in cryptocurrency, the first thing that comes to mind is what coin should I
buy or which one will go up? You've probably heard of Bitcoin, Ethereum, and other popular
cryptocurrencies. Now there's another option for you: Litecoin can be an interesting
alternative if you are looking for something different than Bitcoin. We all know that Bitcoin
has grown rapidly since it was launched, but people started to ask themselves if this growth
would continue forever or not. There were multiple hard forks because there weren't enough
transactions per second to support the growing number of users. With these hard forks came
new coins like bitcoin cash, bitcoin gold…etc. This resulted in many people believing that
bitcoin is no longer the coin it was created to be. It's become something more like a store of
value or digital gold because there are now faster & cheaper cryptocurrencies to use as a
medium of exchange.

This led Charlie Lee to believe that Bitcoin has stopped becoming peer-to-peer cash and
instead morphed into digital gold. So he decided to create Litecoin which would offer similar
features (digital money based on cryptography) but with improvements for usability and
speed. Charlie worked at Google and Coinbase before deciding to focus his time on Litecoin
full time. The main difference between Litecoin and Bitcoin is the block generation rate.
Whereas bitcoins are generated every 10 minutes, litecoins can be mined 4 times as at
every 2.5 minutes. The total number of coins that can be created is 84 million, 4 times the
amount that will ever exist on the bitcoin blockchain.

Why does Litecoin matter today?

The cryptocurrency market has been growing rapidly since its creation in 2009 by Satoshi
Nakamoto with over 800 different types of cryptocurrencies now available. This makes it
harder for some individuals to know which one should I buy or mine? Most people are aware
of Bitcoin but not everyone knows how it works nor how to use it safely. People like litecoin
because it offers some useful upgrades on some features like transaction speed. There is
also more divisibility compared to traditional currencies (e.g $1 vs 0.01 LTC). Litecoin is not
only cheaper to buy than Bitcoin but it's also cheaper to use when you want to transfer
money.

How to store your Litecoins?

Litecoin can be stored in electronic wallets just like Bitcoin. You have two types of litecoin
wallets: the web wallet or the actual application that you install on your computer. Depending
on your preference, you can choose one of these options as long as it's a safe place to keep
your coins. If you're new to Litecoin I recommend that you start with a web wallet because
it's more simple than downloading an application, but if you don't want anyone else having
access to your coins using software is safer especially if you plan on holding onto them for
longer periods. Not only do we need an easy way to store our coins, we also need an easy
way to buy and sell them.

Litecoin Maximum Cap

The total maximum supply of bitcoin is much larger than bitcoin at 84 million coins 4 times
the amount of bitcoins. This means that there will be four times more litecoins in circulation
supply when all are mined. At the time of writing, around 56 million LTC has been mined and
only 36 million left to mine.
Litecoin Price Analysis

The price development of Litecoin is moving in a way similar to that of Bitcoin since it was
created in 2011 by Charlie Lee after he left Google for Coinbase. You can say Litecoin is a
better version of Bitcoin due to its faster block generation rate and lower fees which makes it
ideal for small everyday transactions where speed matters. Most people don't buy or use
Litecoin because they don't know how it works or they are afraid of new technologies. What's
different with Bitcoin is that most people continue buying Litecoin even though the price
increases significantly. Also, you can buy litecoins on several exchanges while for bitcoins
it's easier to find exchanges where you can sell them directly for fiat currency (USD, EUR,..)

Litecoin Market Cap

The market capitalization of Litecoin is currently $3,581,169,528 USD (2018-01-29). This

makes it the fourth-largest cryptocurrency market behind Bitcoin ($63.08B), Ethereum
($27.06B), and Ripple ($8.20B). The reason why it's so large is that this figure represents
the total number of coins in circulation multiplied by the current price ($198.31 as of 2018-
01-29).

List of litecoin crypto wallets

There are different types of wallets that you can use to store your LTC. Some wallets only
support Litecoin but others will also support other cryptocurrencies. These are the most
popular wallets used today: Ledger Nano S: This hardware wallet has become one of the
most popular litecoin storage solutions. It stores your private keys offline so they cannot be
hacked through malware or viruses. Coinomi: This is a free mobile app for Android and iOS
that allows you to send, receive and securely store multiple cryptocurrencies including
Litecoin. Exodus: The first desktop multi-asset wallet with ShapeShift built in! It claims to be
an all-in-one application for securely storing, managing and exchanging blockchain assets
like Bitcoin (BTC), Ethereum (ETH), Dash (DASH), Litecoin (LTC), and more. Jaxx: A multi-
asset digital wallet that supports 7 cryptocurrencies including LTC! You can download this
for free on iOS, Android, Mac OS, Windows, Linux. It also has web versions in Chrome and
Opera browsers.

Is Litecoin a Good Investment?

One of the most common questions that we hear these days is whether or not Litecoin has a
good future ahead. That's hard to say because you can never know how something is going
to be in the future. All we know for sure about litecoin and other cryptocurrencies is that they
follow an exponential growth trend. Yes, you heard me right: litecoin prices do not double
every 2 weeks as some people claim but they still grow at an incredible rate (with small
corrections here and there). If you'd like to make some quick money investing in litecoins
then I recommend that you start with smaller amounts. Investing 100€ now could bring more
than 1000€ returns. But if you invest 1000€ now then you risk losing all of it (or even more)
because the price could go down again.

Risk Of Investing Litecoin

If you are buying litecoins today then don't forget to spread it around. That's because some
cryptocurrencies have become so expensive since their value is over 100000€ at the
moment. If they crash, lots of investors will lose money and this could have a huge effect on
the entire market. Keep in mind that even if more Litecoin are being mined each day but it
doesn't mean that its price has to increase too.

Conclusion

Litecoin is still alive and kicking! It may not be as popular as Bitcoin but it has great potential
to grow even more this year. The total market cap for Litecoin is currently $ 8.0 bn ( January
19th, 2018 ) which is roughly the same as the one of EOS (8th cryptocurrency based on
market capitalization). What bitcoin was created for – fast & cheap transactions – litecoin
aims to achieve by trying to make mining easier and faster than bitcoin. If more people
decide they want to invest in litecoin this will make the coin's total market cap bigger which
makes it an interesting long-term investment. Litecoin also allows you to buy its currency for
cash making it one of the easiest cryptocurrencies to purchase while still being
decentralized.