LTC is rising!

LTC is rising!

By jadams2k18 | jadam2k18 | 11 Jun 2019

As you can hear with your own eyes, Litecoin, better known as LTC, the fourth most important cryptocurrency, is rising, reaching its highest value in a year: $130.

Some people indicate that it may be because soon, during August of this year (2019), its blockchain will reduce the mined reward by half. Which means there will be fewer Litecoins, and like everything that tends to scarce, its price will probably go up as well.

How about that, dear readers? First, the Ether (ETH) and now the LTC is also looking attractive to invest in it. What do you think?

Anyway, let's get to know a little bit of history.

From what I've read, LTC is the son of Bitcoin, that is, it's a fork in the BTC blockchain. It started as a testing protocol and technology back up network for Bitcoin, originated by an MIT student, on October 9, 2011.

Charlie Lee is the name of the LTC's creator, who came to work on Coinbase from 2013 to 2017. There are those who consider him the father of Litecoin and who is able to influence its price. Although he denied that in one of his tweets. Mr. Lee said he had to separate from the LTC project to ensure its decentralized nature.

What we know is that the LTC coin has gained great popularity among cryptocurrencies and came to be compared as silver to gold, with respect to Bitcoin.

In addition, it can perform operations much faster than its parent, the BTC, taking 2.5 minutes compared to 10 minutes of Bitcoin to mine operations. Its maximum emission capacity is 84 million LTC compared to 21 million BTC.

Like the BTC, the LTC uses the PoW consensus but uses a different algorithm. The Scrypt algorithm makes use of RAM and does not depend on the mining equipment, so it does not require complex machines for its execution, so it does not require as much energy consumption as its predecessor.

It is a solid currency, like the BTC and the ETH. What do you think? Is it worth investing in it?

What I think is that it is good to have different investment alternatives, especially for those who do not have much to invest with (like me) ...

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Image from Eivind Pedersen at Pixabay


I'm a system engineer. I like to program and write about crypto and sci-fi stories.


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