Thread by @AltCryptoGems

12 years of existence and @Litecoin is still going strong, let's deep dive into the second oldest #cryptocurrency.

This project review as well as other reviews & free crypto guides can be read more clearly on my website:
altcryptotalk.com/crypto-guides/

1/ 🧵👇

2- #Litecoin is a decentralised, open-source and peer-to-peer network that was originally forked from the #Bitcoin blockchain. #Litecoin is the second oldest #cryptocurrency which was created in 2011 by Charles Lee, a former Google engineer.

3- As #Litecoin is a fork of #Bitcoin, it shares many of the same features, however, it runs on a different mining algorithm and was originally designed to be more decentralised. When #BTC launched, Charles Lee felt $BTC was becoming heavily influenced by centralised authorities.

4- Charles Lee initially planned to prevent corporation-sized miners from mining the majority of the tokens, however, this was not possible to control.

$LTC isn't generally used as a store of value, but instead specifically designed for peer-to-peer transactions.

5- #Litecoin is 4x faster at confirming transactions and has improved and more efficient storage than its original counterpart, #Bitcoin. Litecoin transactions will take around 2.5 minutes, compared to the Bitcoin network transactions which take 10 minutes or more to complete.

6- Not only that, but the #Litecoin blockchain is more efficient and scalable as it can handle more transactional volume than #Bitcoin, all without the need to upgrade its network.

The Litecoin #blockchain also guarantees a "near-zero" cost transactional fee.

7- #Litecoin can be used for any source of global payment as they offer their very own #Visa debit card which can be used anywhere in the world...

Did I also mention that even businesses can use Litecoin to pay their employees?

8- For those who have their very own e-commerce store held on #Shopify or #WooCommerce can accept #Litecoin. payments! Tell me that's not bullish for $LTC, come on.

9- #Litecoin launched with a maximum supply go 84 million coins which makes it a very scarce #cryptocurrency. The supply of $LTC was specifically designed to decrease over time as every 4 years there is a block halving, similar to Bitcoins.

10- The next halving is predicted to be around the 23rd of August 2023 which will reduce the rewards of $LTC coins from 12.5 down to 6.25. As $LTC becomes harder to mine and obtain, the value should therefore increase, possibly massively!

11- At the time of writing, the #Litecoin token $LTC is currently hovering around $84.36 with a market cap of $6B which ranks $LTC the 12th largest #crypto by market cap!

The $LTC token has seen an All-Time High of $412.96 when it reached a market cap of $25.2B in May 2021.

12- #Litecoin Links

Litecoin Twitter - @Litecoin
Litecoin Website - Litecoin.org
Litecoin Website - Litecoin.net

14- That's it for now, thanks for reading!

Hope you guys enjoyed it and learned something!

Follow me - @AltCryptoGems for more content and have a look at my website for more free crypto alpha: altcryptotalk.com

Join the Discord: discord.gg/AltCryptoTalk

#NFA #DYOR