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/
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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.
This project review as well as other reviews & free crypto guides can be read more clearly on my website: altcryptotalk.com/crypto-guides/
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2- #AllianceBlock is a blockchain-based ecosystem that was founded in 2018 by a team based in the Netherlands. @AllianceBlock is on a mission to bridge decentralised finance with traditional finance and they're doing a great job so far!
Well, banks and traditional financial institutions are very restricted from utilising #blockchain technology due to regulation issues and the billion-dollar question is, how do you go around that?
2- Let's start off with the infamous #TerraClassic, which saw its token at the time, $LUNA (now known as $LUNC) crash from $86 to under $0.01 in just 48 hours which caused $LUNA holders to lose a total of $60 Billion.
3- What happened? Well, over $2 Billion #TerraUSD $UST was unstaked from #AnchorProtocol and many millions of dollars swiftly became liquidated.
#TerraClassic still exists to this day and their community of #LUNAtics still believe in its future, but do you?
This project review as well as other reviews & free crypto guides can be read more clearly on my website: altcryptotalk.com/crypto-guides/
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2- @Algorand is a Proof-of-Stake (PoS) blockchain that was founded by Silvio Micali in 2017, who developed the whole protocol from scratch, focusing on decentralisation making $ALGO one of the time-tested #cryptocurrencies in this space.
3- #Algorand is designed to combine the powers of both traditional and decentralised finance by focusing on the #blockchains' three largest problems: security, speed and decentralisation!
What is a Consensus Mechanism and why are they so important within the #Crypto space?
This crypto guide as well as other free guides & project reviews can be read more clearly on my website: altcryptotalk.com/crypto-guides/
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2- Simply put, a Consensus Mechanism is a necessity for blockchain protocols as it allows the #blockchain to achieve agreements across a decentralised network of nodes/computers.
3- Doesn't matter if it is centralised or decentralised, everything needs some sort of authority. Well, the only way to pursue a decentralised world of finance and technology is by using consensus mechanisms like Proof-of-Stake (PoS) or Proof-of-Work (PoW).
What is a Smart Contract and how does it tie into #blockchain technology?
This crypto guide as well as other free guides & project reviews can be read more clearly on my website: altcryptotalk.com/crypto-guides/
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2- A Smart Contract is simply a self-executing programme stored on the #blockchain which controls, documents or executes actions or events taking place between a buyer and seller or two different entities.
3- How does a Smart Contract work?
Let's say a user goes onto a #DEX built on #Ethereum and the user wants to swap their $ETH for $MATIC tokens. The user will swap and interact with the Smart Contract built on the protocol.
I'm getting asked a lot lately about how to buy and sell coins on the #BNB chain, and how to set up Metamask, as I'm posting a lot of these coins.
So here's a thread explaining the basics of #Binance Smart Chain trading and how to use Pancakeswap.
Like/RT if it helped!
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First, you'll need to create a wallet that is compatible with the Binance Smart Chain. One option is to use a browser extension called Metamask, which is available for Chrome, Firefox, and Brave.
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After installing Metamask, you'll need to create a new account. Follow the prompts to create a secure password and backup your seed phrase. Make sure to keep your seed phrase in a safe place, as you'll need it to restore your account if you ever lose access to it.