Review of the cryptocurrency market: Litecoin leads growth
The popularity of cryptocurrencies continues to increase around the world. This applies not only to bitcoin, but also to alternatives: ethereum, ripple, litecoin, etc. Each of these virtual currencies has its own peculiarities, for example, "smart contracts", fast confirmation of litecoin transactions), a source code other than Bitcoin (ripple), unlimited issuance amount (peercoin). Often the altering cryptocurrencies show a more favorable growth dynamics compared to bitcoin. Source: "Review of the cryptocurrency market: litecoin leads growth"
But what exactly is Litecoin and what is behind this low-cost alternative to Bitcoin? Both are open-source cryptocurrencies, the one heir to the other, and while Bitcoin aims to become a substitute for digital gold, Litecoin wants to be silver. But there are some differences in terms of its philosophy and the algorithm that marks its operation that should be reviewed.
2 reasons why Litecoin will explode in 2018
Litecoin could become Bitcoin’s side kick due to its atomic swaps feature.
A lot of cryptocurrency analysts and investors are predicting that Litecoin has the potential to become the sidekick to Bitcoin due to its atomic swaps feature. Atomic swaps allow Litecoin to be exchanged directly into Bitcoin without going through an exchange. This technology not only provides a much safer way to exchange Bitcoin into Litecoin, it also provides a much less expensive way to transact. Right now, Bitcoin is very expensive to send back and fourth between exchanges. To send 0.1 Bitcoin at the time of writing costs around 70$. However, if we had the ability to turn Bitcoin into Litecoin directly with no exchange fees, we could then send the Litecoin anywhere in the world and it would cost pennies in comparison to the large mining fees associated with Bitcoin.
Litecoins’ market cap is a dwarf compared to Bitcoin
Litecoin at the time of writing is at a $5.1 billion market cap. That sounds like a lot and sits currently at the number 6 spot on coin market cap. Put it alongside the amazing technology that is coming and look at its total market cap in comparison to Bitcoin. Litecoin is a tiny spec of dust compared to the $168 billion market cap that is Bitcoin. If Litecoin were to capture even a third of the current market cap of Bitcoin and get to a $50 billion market cap, that would set Litecoins’ price at 920$. A price that, although seems a bit crazy, does not sound in the slightest bit crazy when you see the potential adoption by the masses coming in 2018 of Bitcoin. Litecoin will be right there to ride in its coattails.
This review is based on several studies and behaviors of this currency
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this currency has a lot to offer and its future is prosperous
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Welcome to steemit @vryhof. Thanks for reaching out to me. Crytocurrency is so new to me.. I am so into ecommerce and some of my friends are already into mining crypto...
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