Litecoin is a cryptocurrency that emerge after a successful fork of the bitcoin network which occurred when a split of the bitcoin community supported an ‘Improved’ version of the bitcoin software. Litecoin is an open source project just like bitcoin. Litecoin is the cryptocurrency preferred by tech-savvy investors and still remains one of the most secure cryptocurrencies with the most untapped potentials.
Litecoin was lunched on GitHub on October 2011 after a successful fork in the bitcoin network, its founder Charlie lee is a former employee at Google. There are only a few existing major differences between Litecoin and its mother cryptocurrency bitcoin. Some of the difference between the two cryptocurrencies Litecoin and bitcoin include, difference in block generation time, the number of available tokens, GUI and the hashing algorithm.
Litecoin has a market cap significantly increased in the year 2013 due to a improved market performance of the cryptocurrency after its value doubled in a period of just 24 hours. Litecoin is one of the most preferred cryptocurrencies for investors and traders around the world.
Last year the Litecoin community agreed to adapt SegWit, a new update to the system which increases the transaction block size of the cryptocurrency by separating transaction signatures. Lightning network one of the most vital initiatives aimed at reducing the transaction confirmation time in the bitcoin network was is being developed based on the Litecoin blockchain.
A lot of bitcoin enthusiast who find deficiencies with the bitcoin blockchain always migrate to the Litecoin network making the Litecoin community a huge one. There are significant cryptocurrency and blockchain infrastructure devoted to the Litecoin blockchain.
Most cryptocurrencies share a common feature of anonymity making them a prefer currency for transaction in condition where the transacting parties desires to conceal their true identities and remain trustworthy to each other. One of the chief reasons why Litecoin is highly desired in the underground internet space, the dark web is because of its enhance speed.
For this matter Litecoin is highly demanded in the underground web which is estimated to host a good percentage of the entire internet population. Since all cryptocurrencies growths depends significantly on their demand, the dark web demand factor makes Litecoin a cryptocurrency to watch in 2018 and the coming years.
Very many dark web-based markets moved away from bitcoin due to increased transaction processing fees and confirmation time in the network. The other cryptocurrency which had before succeeded Litecoin was monero but its privacy issues led to a large drop in its usage on the dark web.
Litecoin is not only a champion in transaction processing time but also present a cheaper option for people seeking to send micro transactions to other people. This signifies that Litecoin adoption is on the upward trend so is its price. A good performing cryptocurrency means prices are steadily increasing thus making the cryptocurrency more valuable as time goes on.
Litecoin can be securely traded just like any other cryptocurrency, one of the leading platforms in trading and exchanging Litecoin is Blockonix.com. Blockonix is specifically single out in this category because of the low fees, high user ratings and level of security the platform promises.
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