This is my homework submission on the topic from the link below.
https://steemit.com/hive-108451/@yohan2on/steemit-crypto-academy-or-season-2-altcoins-part1-looking-beyond-the-bitcoin

Litecoin (LTC)

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This crypto's name has probably been going around for a while now. So what's the big deal? Litecoin, on the other hand, was founded in 2011 by Charlie Lee, a developer and former Google employee, and is often referred to as the silver to Bitcoin's gold. This is mainly due to the fact that it uses the bulk of the Bitcoin codebase while remaining a separate chain that has grown in popularity — although not quite as much as its Bitcoin predecessor, which remains at the top in terms of market cap.
Litecoin, on the other hand, has a number of advantages over Bitcoin, including higher transaction speeds and block times of just 2.5 minutes.The scrypt consensus protocol is often thought to be more equitable and safe than the ‘SHA-256' Proof-of-Work protocol used by Bitcoin miners. Scrypt's memory use is one of its most notable characteristics. This makes it much more difficult to mine in pools because tasks cannot be loaded asynchronously, making a 51 percent assault on the network much more difficult.

THE MISSION OF THE COIN LTC

Litecoin was created with one goal in mind: to be a peer-to-peer internet currency that allows for fast, low-cost payments all over the world. It was also designed to help Bitcoin achieve its goal of solving the world's ever-increasing and complex payment needs. And it's because of this forward-thinking, one-of-a-kind approach that Litecoin has been able to break into the mainstream — although with a few hiccups along the way. For a time, the network was plagued by bugs, which served as a significant roadblock to change and eroded the community's confidence.

How does it work?

• On a public ledger known as a blockchain, Litecoin transactions are registered and checked anonymously. This eliminates the need for money to move through a third-party authority like a bank or government.
• Computers solve cryptographic tasks in order to process transactions, and they are rewarded with Litecoins for their efforts.
• Litecoin is held in a wallet, which is a software or hardware system that stores the owner's private keys for accessing their cryptocurrency.

DIFFERENCE BETWEEN LITECOIN AND BITCOIN

The scrypt algorithm used by the Litecoin Network is less complex than SHA-256, which explains its speed. Litecoin has a block time of just two and a half minutes, which is roughly four times faster than Bitcoin. As a result, Litecoin will validate transactions much more quickly. Transaction fees are much smaller in LTC than in Bitcoin because it is simpler and quicker to process.

Litecoin value from April 2013 to April 14, 2021

THE FUTURE OF LITECOIN

Even if it is technically superior to Bitcoin, Litecoin is unlikely to outperform Bitcoin as an investment. BTC is simply more well-known and has a larger market share. Litecoin, on the other hand, would have a real future if digital currency were more mainstream for everyday transactions.

THE PROS OF LITECOIN

• It's worth noting that trading LTC is easy. Litecoin is supported by all hardware wallets, and there are atomic swaps between LTC and BTC. Furthermore, LTC is an appealing choice for newcomers seeking to invest in the cryptocurrency sector due to its lower price compared to other top coins - with almost zero transaction fees and lower volatility levels.
• Litecoin's maximum supply is 84 million coins, which is four times that of Bitcoin. As a result, the possibility of inflation is minimized, and investors will have plenty of opportunities to invest.
• The transactional speed of Litecoin is perhaps one of the most significant advantages of investing in it. Litecoin has a four-fold speed advantage over Bitcoin. Litecoin transactions are processed in 2.5 minutes, while Bitcoin transactions can take up to 10 minutes.

THE CONS OF LITECOIN

• The key disadvantage of Litecoin is its complete anonymity, which has a negative connotation due to its usage in the DarkNet for illicit activities. Too much power is concentrated in the mining industry. Since the launch of the Litecoin skilled mining machine at the beginning of last year, it has been stated that in the presence of mines, computing power has surpassed 50% of total network computing power, resulting in an unequal distribution.

• Because Litecoins are not controlled by a central authority, they are risky to use. If your coin is stolen or lost, your money is gone and you have no recourse.

IN CONCLUSION

Before you invest in LTC, keep in mind that the risk-reward ratio is the most important consideration. So now that you know the advantages and disadvantages of investing in Litecoin, you can answer the following question: "Do future rewards outweigh risks?

So, if you're able to put in the time and effort to do your own analysis, Litecoin investing might be beneficial to you as well.

Always keep in mind one crucial trading rule: never spend more than you can afford to lose. Often put money into risk management and follow the advice of the big fish, who recommend not risking more than 1% of your account on a single trade.

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This assignment is prepared by me @oludare

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@yohan20n
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