Analyzing Cryptocurrency Series #2 Litecoin

Today I release the second part of my seires, "Analyzing Cryptocurrencies."

Today's coin ranks number 4 according to coinmarketcap for total Market Cap currently just under $2.3 Billion 

Known as the "Silver" to Bitcoin's "Gold,"

Litecoin everyone! 

1.) Coin Basics 

a.) Length of time the coin has been on the market 

• October 5th, 2011 was Litecoin's (LTC) introduction to the market
• LTC is the 3rd oldest cryptocurrency, giving it a longer market history than many of the other coins on the market. 

b.) How many coins are in circulation vs total market cap 

• There are currently 52,128,332 coins in circulation 
• LTC has a current market cap of $2,269,250,565 
• Giving LTC a current market price of $43.53 

c.) What is the coins inflation rate

• LTC has a limited supply, capping at 84 million coins
• Similar to Bitcoin (BTC) the rate at which LTC are produced halves every 4 years
• Litecoin also has an increase in block diffiulty every 2,016 blocks 

d.) Current 24hr trade volume of coin

• Current 24hr volume $170,324,000

e.) Recent activity of the coin

• In the last 24hr LTC has dropped 5.75% to a price of $43.53
• LTC held its price well against bitcoin over the last month of July as there was much greater volatility in the rest of the crypto market. 
• LTC has yet to regain traction to it all time high of $54 which it hit on July, 6th 

f.) Which exchanges is it listed on

• Litecoin is listed on the majority of the worlds leading exchanges to including the top 5 volume traders of: 
• 1.) OKCoin.cn $38 million in 24 hr volume 
• 2.) Huobi $33 million in 24hr volume 
• 3.) Poloniex $15 million in 24hr volume 
• 4.) Bithumb $15 million in 24hr volume 
• 5.) GDAX $10 million in 24hr volume 

2.) Technology & Direction of Coin 

a.) Is this a unique idea or are they building upon something already established

• Litecoin is a peer-to-peer, fully decentralized open source, global payment network. 
• LTC is almost technically identical to bitcoin, expect for a few ways
• LTC brings about two important factors that bitcoin does not have (currently)
• 1.) Segregated Witness and Lighting network, which allow LTC to process many more transactions than bitcoin in a given block time. LTC = 2.5 minute block time to BTC = 10 minute block time
• 2.) LTC also has a much lower mining fee that BTC, giving it applicability to use in microtransactions

b.) What is the possible market cap 

• LTC is a currency and therefore has the ability to take over all money, including the replacement of fiat currencies. 
• While it is much more likely to insert itself concurrently with bitcoin. 
• I see LTC being accepted at many places that BTC is accepted and is placing itself to take over BTC were BTC to have any serious problems, such a scalability or something unforeseen. 

c.) What direction is the company heading in

• LTC is looking forward toward a slow and steady growth with low volatility.
• Here is a link to the road-map for LTC for 2017  https://litecoincore.org

3.) Development Team

a.) Who is leading the development team & what is their history 

• Charlie Lee (sn: coblee) is the creator and lead developer of Litecoin
• Lee has a masters degree of computer science from MIT
• Lee boasts and impressive work history of  Software Engineer at Google, while creating Litecoin
• Lee's most notable job as Director of Engineering at Coinbase

b.) Is the leader likeable

• Lee has been very public since his creation of LTC
• He is an intelligent, and sociable person who seems to carry himself well in a public forum and is not afraid to answer the hard questions as seem in his presentation of LTC at a blockchain conference in the link below 

c.) Who makes up the development team 

• Warren Togami (sn:wtogami) is one of the lead developers of LTC. 
• Togami is the founder of Fedora, developer of k12Linux and Spamassassin 
• Anton Yemelyanov (sn: aspect) is another lead developer for LTC 
• Anton has 2o years of software development with a background in 3d graphics, special effects and video processing. 

I hope this analysis met your expectations, as it is my desire to create a place for all to learn and build upon the knowledge you have already established. 

We are currently in an age of mass information. We must find ways to maximize our time when we are looking to consume this information. 

I hope by reading my reports you are all able to maximize your time and information processed to make the best investment decisions possible. 

Thank you so much for reading and please leave comments below with anything you would like to add to the conversation, or would like me to put into the next report. 

Cheers,

Nick

-Images sourced form Pixabay, and statistics pulled form coinmarketcap.com  

-Disclaimer- All the information on this blog is my personnel opinion and should not be considered professional financial investment advice. All information on this blog is for informational purposes only.