INTRODUCTION
Hello Friends,
I'm so grateful, to be a partaker of this season 2 SteemitCryptoAcademy lesson after a short while of it break, we are here to continue our lectures and also carry out the homework task of our noble professor. Today I'm here to discussed my Homework Task on the topic : Looking beyond the Bitcoin - Part1, that was given by professor @yohan2on . In this homework post I have discussed about Litecoin (LTC) as one of the Altcoins that was given in the homework task below:

Homework task: Write about any one of the following Altcoins

• Litecoin (LTC)
• Ripple (XRP)
• Binance coin (BNB)

About Litecoin (LTC)

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Litecoin (LTC) was created in October, 2011 by Charlie Lee an ex-Google employee. Litecoin stands as a peer-to-peer cryptocurrency with so many similarities as Bitcoin, and also based on open-source global payment network that is not controlled by any central unit. Litecoin was created to be used for cheaper transactions rate, and also to be more faster for everyday transactions. In the aspect of being fast in generating block transactions and use of Scrypt as a proof of work that we are going to discussed about. Litecoin is far differ from Bitcoin.

Note: Scrypt Is known as "memory hard problem", that was previously named named "s-crypt". Scrypt is a limiting factor that isn't as the same as the processing power of the memory.

Now that we have gotten a background knowledge about Litecoin, let's quickly look at how Litecoin work

How litecoin work

Litecoin is like a digital money that is used to transfer funds via an open source, cryptography protocol directly between businesses or individuals. It make sure that a public ledger of all transactions are recorded with the help of the used of blockchain technology.

How Litecoin is Differ From Bitcoin

As already discussed above about, how Litecoin is Differ from Bitcoin, let's take a look the similarities that Litecoin has with Bitcoin.

Market Capitalization
The market cap of Litecoin is too smaller compare to Bitcoin, and yet Litecoin is among the top Cryptocurrencies that is being traded.

Transaction Speed
The financial transactions of Litecoin is process faster than Bitcoin. And also Litecoin requires a lot of sophisticated technology when mining than bitcoin.

Number Of Coins
The both coin have a limited number of coins that is in circulation.
Litecoin has 84 million coins that is four times more than bitcoin which has 21million coins.

Let's take a look on how Litecoin is Differ from Bitcoin in tabuler form below:

	Litecoin (LTC)	Bitcoin
Year Created	2011	2009
Created by	Charlie Lee	Satoshi Nakamoto
Transaction Speed	2.5 Minutes	10 Minutes
Coin Limit	84 Million	21 Million
Algorithm	Scrypt	SHA-256

How litecoin is Traded

Litecoin can be trade in any cryptocurrency exchanges like Coinbase, Binance, Luno, Roqqu etc. Whenever Litecoin is buy on any of the exchange, the price of one Litecoin will be quoted against the American dollar (USD). This mean that USD is selling in order to buy Litecoin. Whereby the buyer will have to wait for the price of Litecoin to rise so he/she can sell for a profit. In a nutshell Litecoin is being traded like other cryptocurrencies.

Conclusion

Litecoin toady, is now among the top Cryptocurrencies that has taken the world by surprise as it has activated Segwit and Coinbase began selling Litecoin. This has show how valuable Litecoin is and how profitable Litecoin, is going to be if one should invest in it since the price of Litecoin is fast increasing.