Move on from Bitcoin- here is a brief introduction of Litecoin

January 26, 2019 Quick read

The media has created a lot of hype over Bitcoin, currently the most valuable cryptocurrency. But the buck doesn’t stop here- other cryptocurrencies are also performing very well, if you aren’t comfortable investing in the highly (over)valued bitcoin, you can also invest in many of the other cryptocurrencies that are available for you in the market. One great investment opportunity for you comes with Litecoin, often dubbed as the ‘Digital Silver’ of the cryptocurrency world.

Litecoin has a very similar framework to Bitcoin. Created by ex-Google employee Charlie Lee in 2011, Litecoin was made to be more versatile and easier to mine than Bitcoin, whose blocks are reducing day by day due to the sheer amount of competition for each block of coins to be mined.

Litecoin has many characteristics which are quite similar to Bitcoin.  Lee ensured that the Graphical User Interface of Litecoin was much simpler to use than what Bitcoin offers. With Litecoin, you can mine blocks in a record time of two and a half minutes, as against the ten minutes it takes to mine a single block of Bitcoin.

Mining Litecoin is more secure than Bitcoin, as it uses the Scrypt protocol which ensures that people will find it quite difficult to mine in bulk. Additionally, the usage of this protocol ensures that no one can hack the Litecoin network.

With such security and easy availability for mining, there is no doubt that mining Litecoin has the potential to be big in future. Those of you who are invested in other cryptos can Exchange Litecoin for these cryptos or can Convert Litecoin To Bitcoin for the best results.