Sirwin
Sirwin
Litecoin Waking Up ...

Litecoin Waking Up ...


 

Litecoin Waking Up ...

 

     Crypto currencies, which are seen as the investment tool of the new age, are getting involved with each passing day. I will share information about Litecoin, one of Bitcoin's competitors in this Popular cryptocurrency world.

     Litecoin (LTC ) was included in the blockchain ecosystem in 2011. Although it basically has the same working principle as Bitcoin, there are some differences between them. It is a peer-to-peer cryptocurrency that provides immediate, near-zero cost payments to anyone in the world. Litecoin is a decentralized, open source global payment network. With trading volume and liquidity, Litecoin is a proven trading environment that complements Bitcoin.

     Scrypt production algorithm is used. ““ In cryptography, scrypt (pronounced "ess crypt") is a password-based key derivation function created by Colin Percival, originally for the Tarsnap online backup service. ... The algorithm was specifically designed to make it costly to perform large-scale custom hardware attacks by requiring large amounts of memory.

     Users can transfer their Litecoins anywhere within the network. It produces 4 times faster than Bitcoin. Transactions occur within seconds, and approval by the system takes approximately 2.5 minutes. The cost of transactions is very low either.

 

Advantages

 

     Quick Payment; Litecon is produced every 2.5 minutes. This time is 10 minutes for Bitcoin. Due to this feature of Litecoin, payment transactions are 4 times faster than Bitcoin.

     Wallet Encryption; Wallet encryption allows you to protect your wallet so you can view transactions and account balance, but you must enter your password before spending litecoin. This protects against viruses and trojans stealing your wallet, as well as performing a health check before sending payments.

     Security; The risk of double spending attack is less in Litecoin due to the block generation time. It is also encrypted in Litecoin proof-of-work algorithm. This is a more secure encryption than Bitcoin's SHA-256 protocol.

     In order to be able to mine Litecoin; one or more ASIC miners are absolutely required. : Litecoin has 4 times more production than Bitcoin. While the amount of production is 21 million in Bitcoin, it is 84 million in Litecoin. Currently 66 million are in circulation in the market. Miners are currently rewarded with 12.5 new LTC per block, and this amount is halved approximately every 4 years (840,000 blocks).

 

LTC

 

LTC

 

Result

     Litecoin Coinmarketcap ranks 7th in terms of market volume. Its highest value on December 19, 2017 is $ 375.29. There was a halving on 5 August 2019. The reward per block has dropped to 12.5 LTC. There was a recession in Litecoin after the halving. During the halving, its price is $ 92. The next halving will be in 2023. When we examine the graph, Bollinger bands receive support from the midline. It will rise after short-term recovery. RSI and MACD have begun to recover. It can test two important levels. The first test level is $ 100, the second level is $ 142. It succeeded in attracting attention day by day in the market. As I always said, listen to everyone, decide for yourself...

take care, see you... follow me ...

 

Photo by Roger Brown from Pexels

 

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