Litecoin rose sharply on May 29th. Its average market price increased by 7% in a few hours. The coin's rate was $122 and, according to experts, it could go up to $130. Analysts predicted three important levels...
Litecoin rose sharply on May 29th. Its average market price increased by 7% in a few hours. The coin's rate was $122 and, according to experts, it could go up to $130. Analysts predicted three important levels on which the cryptocurrency might get hung up on - $116, $118, and $120. But Litecoin overcame them without much difficulty. If the rate starts to fall, experts say it will not go below $110.
It is important to note that the growth rate of Litecoin runs against the backdrop of a rise in price of other cryptocoins. At the same time, Bitcoin went up by $300 to $7,400 and the total capitalization of the market increased by $15 billion.
Litecoin (LTC) is a peer-to-peer cryptocurrency. The first release took place on October 7th, 2011.
It is slightly different from Bitcoin as it is one of its forks. In fact, it is a payment network that allows you to quickly transfer funds to any region of the planet. So third parties are not involved in the process, i.e. between the payee and the sender there are no controlling authorities in the form of banks or other financial institutions. Litecoin can be exchanged for both Bitcoin and Fiat money. Also, you can pay in online stores and receive services - of course only where Litecoin is accepted for payment.
Litecoin has its advantages over Bitcoin, and the main one is the higher transaction processing speed: instead of 10 minutes it's about 2.5 minutes.
In addition, LTC is expected to produce 84 million Litecoins, which is four times more than Bitcoin.
What is Litecoin?
First, the software is open source. The license MIT / X11 means that any user can change, copy, or distribute the software as they please. Litecoin has a transparent release process which makes it much easier to independently check binary files and the corresponding source code.
Second, the available resources. For general information, a list of services and exchanges that support this coin can be found in the Litecoin Wiki. The latest network statistics are stored in Litecoin Block Explorer Charts. And you can find the source code for Litecoin Core through GitHub.
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