Litecoin is a fork of bitcoin. Litecoin is called "electronic silver" by analogy with Bitcoin's "electronic gold". Charles Lee, programmer from San Francisco, developed and launched Litecoin in 2011. The project was conceived and created as an alternative to Bitcoin, the program code of which was taken as the basis. At the moment, Litecoin cryptocurrency is quite stable and therefore it can be easily converted into Bitcoin.
Between 2011 and 2012, the Litecoin cryptocurrency has been developing steadily without jumping over head and gradually increasing its rate. In 2013, there was an unexpected jump in the capitalization of Litecoin and its rate, which gave popularity to the cryptocurrency and quickly brought it to the top of the best cryptocurrencies. The reason for such jump remains a mystery to this day. Many associate these events with the advantages of the currency, which has proved itself well in the first two years of its existence in the market.
At the same time, in 2014, the Litecoin rate went down, which was related to the release of numerous ASICs (Application Specific Integrated Circuit - for mining Litecoin cryptocurrency in this case). They were sold to all who needed them, anyone could easily acquire such ASIC and effectively acquire Litecoin on its own. Of course, This led to an unprecedented surge in cryptocurrency mining., which exceeded demand immediately and led to a fall in value by almost two thirds.
In August 2017, Litecoin's rates have risen again - up to $52 and its market capitalization amounted to $2.7 million. Experts attribute such success to the fact that the new currency of the Bitcoin system - BitcoinCash failed a little, showing its insolvency in the market
Litecoin has indisputable advantages, compared to many other cryptocurrencies. First, it is actually sending money to anywhere in the world, regardless of your location and the final point; second, the main point of the Litecoin system is decentralization, which is useful for users who want to protect themselves; third, hashing algorithm of Litecoin cryptocurrency is quite able to compete with Bitcoin in processing a large number of transactions in a chain of blocks with the least amount of time. So, we can say that the younger brother may soon overtake the eldest one in the success of the market.
In addition, Litecoin can process one transaction within two and a half minutes versus ten minutes Bitcoin - here Litecoin is much quicker and many users, as you know, do not like to wait and prefer Litecoin in this sense. And the Litecoin's icing on the cake comes out from the fact that, as we know, many cryptocurrencies have a certain maximum for the total volume of coins. So, in Litecoin this volume is 84 million, which is 4 times more than in the Bitcoin system.
Litecoin is possible to get the same way as Bitcoin, Monero and many other cryptocurrencies - through mining (solving mathematical problems with powerful computers, in the process of which a new coin is created). The question remains only in the limit of the creation volume, about which we have already discussed.
Now Litecoin stands at around 230-250 dollars and is a very attractive currency for many traders and investors due to the fact that it is not the object of frequent financial manipulations like other popular currencies yet.
Litecoin takes 6th place in capitalization, while its price is relatively stable and numerous experts' forecasts tell about nothing else but the further growth of Litecoin, which makes it one of the most promising cryptocurrency now. Litecoin is among the five most successful cryptocurrencies and its capitalization is growing steadily, indicating a positive outlook for the future.
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