general characteristics

1. Ewallets for Android, Windows, Apple, Linux, and Blackberry
2. It is nearly identical with Bitcoin
3. Date of introduction: 7th October, 2011
4. Founder: Former Google employee. Charlie Lee
5. What differentiates it from BTC:
   5.1) Decresed block generation time (2,5 minutes)
   5.2) Increased number of overall coins (84 million LTC) (x4 number of bitcoins)
   5.3) Different hashing algorithm, scrypt, instead of SHA-256
6. As it is almost identical to BTC, it does not have a White Paper
7. The amount of transactions per second is astronomical in comparison with Bitcoin.
   It is stunning 56 tps!
8. SegWit:segregated witness-exclusion of signatures from blocks, this can add up to 47% of memory in the block, which can be used to store more transactions.

transaction fees, how to count them

Amount of pending transactions on 16th december 2017: 582
the average transaction fee is 0,0015 LTC, which is 0,44 dollars.
as we can see in the last LTC block, Litecoin Block 1,333,061, there were 73 transactions with only 0.1258 LTC fee overall.That is 0,00186 per transaction!
Also Litecoin fees are not growing exponentially as is the case with Bitcoin. Here is the historical graph
https://bitinfocharts.com/comparison/litecoin-transactionfees.html
Here you can check out LTC unconfirmed transactions

SilkRoad acceptance

SilkRoad accepted Bitcoins only for payments and never used Litecoins. That may be the reason why DPR got arrested, lol :)

litecoin price

Litecoin price on coinmarketplace for 16th December is 309, 28$. Market cap is $16 803 532 654. It places Litecoin on the 5th position by market capitalization.

conclusions

Litecoin is a very "light" coin, in a sense that the transactions are carried fast and the fee is low. It has a very solid infrastructure that was built around it over the 6 years.You can even buy e-cigarretes or games with it! In the long run, and in 2018 I believe the USD price of it will only grow as it may become the "digital cilver" of the cryptoworld.

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