Litecoin is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.
The benefits of Litecoin are closely linked to the utility of the tokens which will be reviewed on this article.
Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.
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A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review Litecoin token by explaining what the coin is about, tokenomics, roadmap, ICO, staking insights of the project, listing the pros and cons, the supply and how legit/safe the token is for investment.
What is Litecoin?
Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology.
The cryptocurrency was created based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.
Litecoin was released via an open-source client on GitHub on Oct. 7, 2011, and the Litecoin Network went live five days later on Oct. 13, 2011. Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence.
The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a “lite version of Bitcoin,” in that it features many of the same properties as Bitcoin—albeit lighter in weight.
Who Are the Founders of Litecoin?
As we previously touched on, Litecoin was founded by Charlie Lee, an early cryptocurrency adopter and a name held in high regard in the cryptocurrency industry.
Charlie Lee, also known as “Chocobo,” is an early Bitcoin miner and computer scientist, who was a former software engineer for Google. In addition, Charlie Lee held the role of director of engineering at Coinbase between 2015 and 2017 before moving on to other ventures.
There are 70,707,956.28 LTC in supply worldwide.
Pros and Cons of Litecoin
Pros of Litecoin
- There is a surge in the market price currently
- There is a community
- Contract on HECO
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
- Good navigational website – Litecoin
Cons of Litecoin
- The coin is still under research and development
- Project whitepaper unavailable
- Multiple issues with its synchronizations between ledgers
- Not listed on some exchanges
- No Github profile
- They have no reddit account
- No Bitcointalk thread created
- No traceable features on tradingview
Is Litecoin Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Litecoin have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.
Is Litecoin Safe?
Being willing to invest in any token is a question entirely up to you to answer. Litecoin token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Litecoin on the comment section below. Don’t forget to rate and leave Litecoin a review.