Can Litecoin Surpass $1000 in 2018?

Can Litecoin Surpass $1000 in 2018? Charlie Lee sold all his Litecoin, the price is hovering around 0.02BTC but can it surpass it?

Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Litecoin is one of the largest, oldest, and most used cryptocurrencies in the world. Similar to Bitcoin, Litecoin uses blockchain technology to process transactions.

So what’s the difference?

Well, there are important differences that separate the two. First, Litecoin has a lifetime cap of 84 million coins, which is four times higher than the total number of Bitcoins that can be mined. This means that as demand increases, there will be a larger supply of Litecoins to meet it, at least initially.

Quicker Block Generation

Another way that Litecoin may have improved upon Bitcoin is in regard to its block generation time. Litecoin has a time of 2.5 minutes, compared with 10 minutes for Bitcoin. In practical terms, this means that transactions involving Litecoin will be confirmed four times faster than those for Bitcoin, according to Seeking Alpha’s Melwin Phillip.
Phillip believes that Litecoin could be a useful medium of exchange for small transactions in particular, as the fees will likely be substantially lower than those for Bitcoin. For investment purposes, this means that users will spend less money paying to buy or sell Litecoin than they would Bitcoin.

Mining Is Easier

While Litecoin and Bitcoin share the proof of work concept when it comes to their mining operations, the algorithms that the two blockchain systems use are quite different.
Litecoin’s mining algorithms are significantly simpler than those of Bitcoin, meaning it can be mined on computers which are less powerful and that it will take less energy. Considering that mining operations around the world take up massive amounts of electricity and there is already a shortage of powerful graphics cards needed for mining rigs, this could prove to be a major advantage for Litecoin miners going forward.
All of these key differences between Bitcoin and Litecoin point toward certain advantages that Litecoin might have over its bigger peer when it comes to investments.

Can Litecoin Surpass $1000 in 2018?

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Kane Dane