He sees it as a very good coin for speculative trading, but he does not believe in LTC as a long term investment. Tyrone Ross Jr., CEO at Onramp Invest, is less optimistic regarding Litecoin. Moreover, Litecoin might be a great cryptocurrency to buy for those who are interested in fast and cheap transactions or for those who are just looking for a more or less stable and affordable altcoin. It can be called a long-liver, and it’s somewhat stable compared to other altcoins, some of which have already died out.īen Weiss, CEO and co-founder of CoinFlip, believes that an increase in usage and wider adoption can raise Litecoin’s value in the future. Litecoin is one of the oldest altcoins in the cryptomarket and is still on the list of the most popular cryptocurrencies. So it is safe to say that the golden days of Litecoin are potentially still to come as it’s transforming into something more practical.ĭoes Litecoin have a future? What do experts say about Litecoin? Moreover, in future Litecoin’s smart contracts could be compatible with Ethereum Virtual Machine. This protocol will allow the deployment of smart contracts, NFTs, and decentralized tokens with transactions notarized on Litecoin’s ledger. On September 7th, The Litecoin Foundation introduced the OmniLite protocol that is built on top of Litecoin blockchain. With the introduction of other cryptocurrencies that have entered the market in recent years, Litecoin has had to come up with something else. Still, even though Litecoin’s technology is superior to Bitcoin’s, it still lags behind the number one cryptocurrency since its only functionality was to make a much faster and more flexible peer-to-peer electronic payment. However, its network is more vulnerable to Botnet attacks, because the overall number of miners is lower than in BTC mining. Since the formation of the block is 4 times faster than Bitcoin’s, Litecoin’s mining proceeds with higher speed. It is estimated that both last BTC and LTC will be mined until the year 2140.
#Lite coin price prediction Pc#
However, unlike BTC, Litecoin does not need too much computing power for mining due to simplified algorithms, thus making it possible to mine LTC even via your regular PC without the need for expensive hardware. Litecoin’s supply is 84 million LTC, while Bitcoin’s supply is 21 million, both of these cryptocurrencies are mineable and operate via the PoW method. Not to mention the fact that an LTC transaction consumes only around 3% of the energy that it takes to process one BTC transaction. The reason why fees are so low is that the network puts aside Litecoins that do not derive from transaction fees to incentivize miners and because the LTC network is more flexible and not congested as much as the Bitcoin network. However, if we take a look at the LTC transaction fee chart for the whole time, we can see that its average fee was $0.3 – 0.5, and around $1.5 during its peak. Litecoin Average Transaction Fee Source: Bitinfocharts The latter one’s transaction can cost you from around $3.5 up to $70 during the peak network demand. The fees is another aspect that LTC has managed to improve compared to BTC. Litecoin’s network can process 56 transactions per second, when Bitcoin’s maximum capacity is only around 7 the speed for transactions is 2.5 minutes for Litecoin and around 10 minutes for BTC.īitcoin Average Transaction Fee Source: YCharts
#Lite coin price prediction full#
So can we say that Litecoin hasn’t reached its full potential and it is vastly underrated? Let’s take a closer look at Litecoin’s technology. Nonetheless, it is still number one with more than one trillion dollars of market capitalization, while Litecoin is only in the Top 20. If we compare it with Bitcoin, Litecoin has achieved more than “digital gold” did in terms of speed and throughput: Bitcoin is becoming more and more bulky, and less practical in small purchases. However, Litecoin can handle more transactions because of its shorter block generation time: it was the main goal of Charlie Lee to create a cryptocurrency that would be quick and flexible, so it could be used as digital money in everyday’s life. Litecoin, just like its competitor, works in a proof-of-work ecosystem, which means that these cryptocurrencies are both mineable and require a vast amount of computer engineering for solving math “puzzles”.
0 kommentar(er)
