A quick look at cryptocurrency #9 Litecoin

in #cryptocurrency7 years ago

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Today we're going too look at Bitcoin's brother - Litecoin. That coin was created to solve some problems that original Bitcoin has.

  • Litecoin's block is created every 2,5minutes (Bitcoin 10 minutes) which means, that Litecoin's transactions are way faster and cheaper - transaction costs around $0.12

  • It has its' own official wallet (Litecoin core - phone, coinwallet - PC)

  • Apart from Bitcoin, it has the biggest investment into mining machines

  • Proof of Work feature (basically what mining is)

  • Litecoin has a fundation (most miners decided to give a part of their rewards for the further development of this project)

  • Its' technology is way better than most of the "OldBoys"

Let's move to your favourite part, price:
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  • Date of release 28th April 2013
  • Starting price $4.30
  • Lowest price $1.20
  • Highest price $171.55
  • Current price $163.01

Investment aspect:

  • Litecoin used its' jetpack recently, so I don't predict the same spike in a month or so, but long-term it's one of the most interesting cryptos for sure
  • Being developed to this day, which means, that there still could be some news that would make the price go even higher
  • One of top10 cryptos - those are the ones, that 90% of NEW money flows into - which boosts the price on a stable level

Litecoin is the old guy that still stands strong and doesn't intend to go away. What are your thoughts? Let me know!