3 Important Facts about Litecoin

Litecoin is a cryptocurrency worth exploring as in addition to already measurable value in the market it insures convenient transactions which can become very popular in the future. There are many interesting features and specialties of the Litecoin that add value to the company. One of the most important specialties to know about Litecoin is that it was created by greatly being inspired by Bitcoin. Meanwhile there are 3 important facts here you need to know for sure about the cryptocurrency.

  1. Litecoin solves some important issues of Bitcoin

Charlie Lee – the founder of Litecoin and a former Google employee started developing the cryptocurrency based on some measurable issues of Bitcoin. In particular Lee aimed on improving the transaction time and costs as well as the concentrated mining pool of Bitcoin. As a result Litecoin was developed to be a more convenient and large-scale adoption cryptocurrency.

  1. It is 4 times faster than Bitcoin

The goal of making Litecoin measurably faster than Bitcoin was achieved by reducing the block confirmation timing. As a result the timing was reduced from 10 minutes to 2.5 minutes which made LTC 4 times faster than Bitcoin.

  1. It has fixed amount of coins

LTC insures a great security by issuing only 84 million Litecoins that can ever exist. In addition it is stated by the company that 55.58 million coins have already been released so there are only about 30 million coins left to be mined for the future. In fact the number of the LTC was created based on the number of Bitcoins which is 21 million. The amount of LTC was created considering that it will be 4 times faster than Bitcoin. The fixed number of Litecoins “protects” the cryptocurrency from inflation and other external influences which endanger any other traditional currencies making Litecoin much more sustainable.

LTC has a huge growth potential by overcoming many important functionality gaps of other cryptocurrencies in the market and with wider use of this cryptocurrency may also become widely popular in the future.

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