Litecoin Review: Current State of LTC

Best LTC Wallets: https://www.coinbureau.com/analysis/best-litecoin-wallets/
Litecoin Mining Pools: https://www.coinbureau.com/mining/best-litecoin-pools/
Segregated Witness: https://www.coinbureau.com/education/what-is-segregated-witness/

BTC Tipjar ??: 35YDYtYAB999JxiXQXewzLvMGX4ki2d3WL

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

⏰ Time Stamps ⏰

0:55 Introduction
1:43 Litecoin vs. Bitcoin
3:00 Litecoin Halving
4:05 Atomic Swaps
5:51 Lightning Network & Litecoin
7:00 Segwit on LTC
8:00 Privacy Enhancements
9:08 Litecoin Foundation
10:48 Partnerships & Adoption
11:30 Network Health
12:35 Exchange Support & Market Liquidity
13:25 Conclusion

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

⛓️ ? Helpful Links ? ⛓️

► Website: https://litecoin.org/
► Foundation: https://litecoin-foundation.org/shop
► GitHub: https://github.com/litecoin-project
► Scaling Comparison: https://bit.ly/370ZfO6

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

?️ Socials ?

► Official Blog: https://litecoin-foundation.org/latest-news/
► Twitter: https://www.twitter.com/LTCFoundation
► YouTube: https://www.youtube.com/channel/UC8unJ4YCZgc5e7Sb_cckDgg
► Forum: https://litecointalk.io/

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

? Project Overview ?

Litecoin is a fork of Bitcoin’s core client, with a few slighty altered attributes. The project began in 2011, launched by former Google employee Charlie Lee.

Litecoin is a Proof-of-Work coin. Litecoin offers faster results with shorter block times, which take roughly two and a half minutes (compared to Bitcoin’s 10).

The project does this through its mining algorithm referred to as Scrypt.

Because of the algorithm, block times and mining difficulty, Litecoin has a max throughput of 56 transations per second. This is considerably more than Bitcoin’s 7.

⚙️ Technology ⚙️

Litecoin is a particularly Strong adopted of Atomic Swaps. With Atomic Swaps, users can instantly perform cross-chain transactions.

A little over two years ago, Decred and Litecoin were the two projects that completed the first ever cross-chain atomic swap.

Litecoin is also a really strong adopter of SegWit. SegWit usage on Litecoin is currently at 75% and has increased since last year.

Litecoin devs have been exploring ways to make it Fungible – so similar to the likes of Monero and other privacy coins.

One of Litecoin Improvement Proposals (or L.I.Ps) presented a few months ago was the implementation of the mimblewimble protocol. This is a pretty advanced protocol that can obfuscate transactions and make them private.

?‍?️ Team, Partners & Development ?‍?

The Litecoin Foundation is a non-profit registered in Singapore that has a number of aims. Prime amoung these is to drive the adoption of Litecoin across the world.

The foundation also works with a wide variety of payment gateways. This includes companies like Coinpayments, Coingate, Travala and so on.

There are merchants across the globe that accept Litecoin as a form of payment, with most existing in Europe and the United States. However, there are also quite a few in parts of Asia as well, including Indonesia and India.

? Network Stats ?

Transactions have dipped a bit since the halving in August, they are still in line with what the network was seeing throughout 2019, which would suggest the Litecoin blockchain is still fairly healthy.

Unique addresses had a large spike in August at the time of the halving, Litecoin is showing a bit of a dropoff in these.

Overall, on-chain data suggests that the Litecoin blockchain is relatively healthy. There has been an increase in large transactions, plus a slight uptick in the number of users who have held a significant amount of LTC for more than a year.

? Trading & Liquidity ?

Litecoin is in a fortunate position when it comes to market liquidity and exchange support. Given that it was one of the first few altcoins on the market, it has constantly been a staple cryptocurrency on exchange order books.

As a result, Litecoin does over $2 billion dollars a day in trading volume. If we were to compare this to other cryptocurrencies, it is the 4th most traded crypto on the market.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

? Disclaimer ?

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Litecoin #LTC #crypto #Blockchain #Review #Segwit #Fintech #Lightning #blockchain

Litecoin Review: Current State of LTC

Related Post:

About The Author

Kane Dane