Litecoin
Litecoin was released in the early days of October, 2011. It derives from Bitcoin but has been altered with a few changes that gives for what the creator claims a higher grade of performance. First of the block chain processing time has been reduced down to 2.5 Minutes which makes for faster transaction confirmations and allows for quicker payment processing. The coin supply has been increased to 84,000,000 and the coin was the first cryptographic currency on the market to make use of the Scrypt hashing algorithm instead of the SHA256 that is used by Bitcoin.
The Scrypt hashing algorithm makes ASIC development more complicated and expensive which can be seen on the first released ASIC devices for Scrypt mining on the market today going for about the same performance per dollar as an equally performing set of graphic cards. I believe it will be quite some time before we will see cheap enough ASIC devices on the market to take over for the GPU mining community. Litecoin is also open source and has had a lot of alternative coins derive from it’s code with great success.
Litecoin took a turn for the stars and experienced growing high that included days with over 100% increase in value landing it at a high value of over 40 US dollar in 2015. Today the Litecoin price is still takes quite good positionson in the charts displayed on CoinMarketcap.com.
With the coin being supported by an extremely large community and a development team with a former Google employee on the frontline, I have no problem seeing this coin holding it’s position as not bad on the market cap charts. So far quite a few exchanges support it with fiat to LTC trading. I’ll be follow Litecoin and it’s growth with interest.
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Thanks for the perfect post! @tanata
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Great post! Would be great to see some more sources to backup your views. Upvoted
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Very good post. Interesting to see I'm not the only one that is thinking about this. It's surprising how much uneducated investors the crypto space has. You still see people invest in this shady and scammy coins. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). Besides coinmarketcap.com there is: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. Check: https://www.coincheckup.com/coins/Litecoin#analysis For the Litecoin Analysis.