Litecoin takes the lead among cryptos. Today we are exploring the crazy joyride on a Litecoin highway, which its creator Charlie Lee has so eloquently put once: “Think of it being two highways: Today, Bitcoin is packed full of cars and Litecoin is empty. Even with Bitcoin packed, the cars are not coming to use the Litecoin highway today because it’s not connected and it’s inconvenient to go across. Lightning Network will build bridges over the highways. But a side benefit is that these bridges will connect both highways together.” The time has come to check out the Litecoin advantages.
What Is Litecoin (LTC)?
Litecoin appeared in 2011 as the lite version of Bitcoin. It is still today one of its most popular forks. Creator of Litecoin is Charlie Lee, a former Google employee.
Litecoin is most popular for its incredible speed and extremely low transaction costs. These also constitute the main Litecoin advantages. However, these advantages have deeper reflections which make Litecoin even more attractive, and we will review them here.
As many other cryptos, Litecoin is an open source, peer-to-peer crypto currency, which is fully decentralized. All of these big words that sound complicated refer to very easy-to-understand concepts. Basically, it means that anyone can contribute to its development, and that there is no central authority governing its trends, fluctuations, etc.
Litecoin Advantages Compared to Bitcoin
You may be surprised to learn that Litecoin is 4 times faster than Bitcoin. It also outranks the leading crypto currency when it comes to low transaction fees:
- Depositing with Litecoin is up to unbelievable 100 times less expensive compared to Bitcoin, because of the extremely low transaction fees.
Moreover, Litecoin is strongly scalable. To you, as a depositing player, this means that your payments can be processed faster than before:
- Litecoin is 4 times faster than Bitcoin because it can reportedly process approximately 56 transactions per second. This beats any other crypto today. But that is not all! Shorter confirmation times enhance security of the transaction, so we can safely say that Litecoin is becoming one of the best secured cryptos nowadays.
Next, the number of Litecoin units is 84 million coins, which is way more than Bitcoin’s upper limit of 21 million:
- Bigger number of LTC gives this crypto a psychological advantage, while we are yet to see whether bigger number of units will keep the price lower as well, in the long run.
Litecoin is decentralized crypto. To put it more simply:
- Users do not need to rely on third party to process the payment, such as banks, for example. Therefore, close to zero intermediary fees are possible.
The Litecoin network is open to anyone. In plain English this refers to:
- The network which allows anyone worldwide to make the changes to the protocol, and it is a good thing. Why? Because we constantly need changes to the protocol to be implemented, so that we can all be in sync with the market’s needs and enable smooth running of things.
Litecoin at Casino Extreme
Crypto casino Extreme invites you to try out the best depositing option at the moment and see it for yourself. We have in mind how much you value your money, because we feel the same.
Litecoin advantages are too many to ignore and not benefit from. So, hurry up to our Cashier and let us know your impressions.