Home Cryptocurrency A brief overview of Litecoin as a cryptocurrency

A brief overview of Litecoin as a cryptocurrency

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Litecoin: A brief overview

Litecoin is one of the profitable cryptocurrency in the world today. Do you know Litecoin is also an example of cryptocurrency. When the world cryptocurrency is mentioned, what comes to the mind of an average person is Bitcoin. Cryptocurrency is more than Bitcoin. Other cryptocurrencies are referred to as Altcoin (Alternative coin).

The most popular of this coin is ethereum. This article will be focused on Litecoin as an altcoin. Litecoin is a peer-to-peer cryptocurrency that is used to carry out a financial transaction online. It is presently ranked as the 7th most lucrative cryptocurrency to trade in.

Like most cryptocurrency Litecoin have been on a fantastic lightening run throughout 2017, the price has gone up a lot over the year. It still maintains its upward trend. Getting to a mark of $400 might not be impossible stuff, however, this year. The price might not gain or attract attention like Bitcoin or Ethereum, it is, however, good to see the coin gradually creeping up the ladder. The price has surged up since it experienced a low in mid-September, which was experienced in the crypto world. Although some analyst associate this with the Chinese government crackdown on ICOs

A lot of fantastic development is coming in the crypto world shortly, ignoring Litecoin is not something that should be done by any crypto investor. Litecoin is presently a significant cog in the machine of atomic swaps right now. You can easily swap Litecoin with every cryptocurrency including Bitcoin. Unlike Bitcoin whom the inventor is anonymous. The inventor of Litecoin is known, the developer is Charlie Lee and all thanks to him the whole world might soon embrace atomic swaps over centralized exchanges.

The cryptocurrency market is presently experiencing a hike after the bubble it suffered early this year. Litecoin is currently at $253.35, which shows that it dropped by 21.927%  between  November and January, it experienced a slight increase this week. The market is unpredictable as the price might soar up or dip low. Litecoin is one of the coins to buy and trade.

Properties of Litecoin

  1.    A digital currency –Litecoin as a digital currency is very secure, private and very hard to trace the source. It is a peer to peer network and open to all. Litecoin gives the privilege of being your bank. The power to earn, store and carry out transactions is solely in your hands.
  2.    Litecoin is secure– Like all other crypto coins. Litecoin is decentralized. A network of users operates the currency. The Blockchain technology has helped in improving the problem experienced by carrying out transactions online. With Litecoin, your funds are secure.
  3.    Litecoin is private-Litecoin uses ring signatures and rings private transactions to obfuscate the amounts, origins, and destinations of all transactions. Litecoin gives all the advantage of a decentralized cryptocurrency, without any of the typical privacy entity.
  4.    Litecoin is untraceable-Transaction is very hard to trace when trading with Litecoin, both the receiving and sending address are kept anonymous throughout the transaction. The Blockchain cannot be linked to any user or identity chosen.

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