I'm putting Litcoin in the spotlight because we are only two months away from the next halving (see my Buy review https://cyrator.com/post/6475c07580e6261f414f41ba?ref=6440714f9f734486c152698e)
Litecoin, created by former Google engineer Charlie Lee in 2011, is one of the earliest altcoins. It was designed to be a faster, more secure, and low-cost payment method compared to Bitcoin - the silver lightening so to speak to Bitcoin's slower gold.
Litecoin introduced a new hashing algorithm called Scrypt, which supports faster transaction speeds. While Bitcoin processes around five transactions per second and takes about 10 minutes to generate new blocks, Litecoin can handle 54 transactions per second and create blocks every 2.5 minutes. This improvement in transaction speed allows merchants to accept Litecoin and settle payments faster, facilitating quicker business transactions similar to other digital payment methods.
And while the halving is near, Litecoin's close connections to Bitcoin could mean they move together - so price action could be correlated with what direction Bitcoin is moving. Either way, I will be watching with anticipation over the next couple of months. Show Less
