People are constantly talking about Litecoin and its main competitors, Bitcoin, Dash, Ripple, Monero, and Ethereum. Altcoins are all the cryptocurrencies of bitcoins, the industry’s leading name since 2009, and Litecoin is perhaps the best, safest and most untapped potential.
Litecoin is a peer-to-peer cryptocurrency based on Blockchain, which works in the same way as Bitcoin and Ethereum, enabling instant and almost zero cost payments to any person in the world. The Litecoin network supports large – volume transactions without the need to modify the software in the future by implementing frequent block generation, lightning and Segregated Witness ( SegWit )
Bitcoin and Litecoin are generally considered complementary, and Litecoin often works to implement changes and updates that can also benefit the Bitcoin network.
Litecoin established its position as one of the preferred altcoin options for investors and traders around the world, reaching a billion-dollar market capitalization many years back, in November 2013.
In the beginning, they became the first of the significant cryptocurrency to adopt the SegWit ( Segregated Witness ) system, which separates transaction signatures to increase the blockchain size limit.
The usability of litecoin is what puts it ahead of other altcoins and competition with Bitcoin for market share.
With Bitcoin slowly disappearing from the dark internet, the battle for its market share seems to be between Dash, Monero and Litecoin, the latter with a strong pole position.
People began to have problems with the prices of the network inflated, due to the high fees charged by Bitcoin and began to look at Litecoin.
Litecoin, which is the 5th largest cryptocurrency by market capitalization, has seen continuous progress.
Recently, Litecoin partnered with GLORY to become the official cryptocurrency for GLORY Kickboxing league. Also last year, an Asian technology Giant, HTC announced the incorporation of Litecoin with Bitcoin in its flagship smartphone, HTC Exodus.
Litecoin has enjoyed increasing acceptance of cryptocurrency services and the retail trade, which is consistent with its distinct advantages. Many people are eager to enter the cryptocurrency market, but it is important to have a solid understanding of how the cryptocurrency world and blockchain technology works before you dive.
However, part of the current increase in popularity can be attributed to Litecoin’s adoption of features such as lightning Network and Segregated Witness technology ( SegWit ) that has enabled the Network to handle more transactions and to be used on the internet to pay for a range of goods and products.
Litecoin is also very famous among traditional retail stores worldwide and is included in the payment method by companies such as CheapAir, Alza, CZ, Wirex, egifter, etc.
Litecoin is back on the trend as the open source community continues to improve scalability, fungibility, and privacy.