Since the advent of cryptocurrencies it has been almost 8 years and during this time they have been increasing their popularity day by day. Last August 27 Litecoin had an excellent day since it managed to reach a record price that had never been obtained with a value of 64.82 dollars 11.09% more than the previous day, the volume of operations exceeded 862 million dollars with a capitalization market of 3.4 billion dollars.

The cause of this increase was due to the official activation in the Segregated Witness network better known as SegWit- on August 23, the date on which the block number 481822 was processed by the mining group BTC.com

The idea of ​​SegWit was presented by the software developer Peter Wuille in Hong Kong at the Hong Kong Scaling Workshop 2015 whose main objective is to create malleability and more size space in the block.

Since March of this year the litecoin began to have a greater movement as various groups of miners showed their support for SegWit. Undoubtedly Litecoin continues to gain support from the mining community which makes its price rise significantly in the markets.

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It is very possible that in 2018 the Litecoin will be forged due to particular characteristics of its technological platform such as SegWit.

Currently Litecoin is much more efficient at the time of performing block processing, which helps to have a much faster confirmation of virtual transactions.

The price of Litecoin has been quoted in a range from $ 38 to $ 65 and it is expected that the litecoin price may reach its maximum in 2018 as long as the current conditions of cryptocurrency in the market are maintained, which is a possibility, however a change in the performance of bitcoin would directly affect Litecoin

Cripdidivisas such as Litecoin are transforming the digital economy, then we present key information that summarizes in a simple way the behavior of Litecoin in the market

Since the year 2009 that Bitcoin was born by the developer Satoshi Nakamoto, other crypto patterns have been emerging such as: Litecoin, Ethereum, Ripple, Dash among others. Thanks to the technologies that Litecoin uses , it is currently the second best-known and most widely used electronic currency .

Who is the creator of Litecoin? Litecoin was created by Charlie Lee, a Google engineer who initially did not have the goal of creating a new currency if not a bitcoin add-on; Later Litecoin was adding advantages that obviously Bitcoin did not have what ended in the creation of this new cryptocurrency.

What is Litecoin?  Litecoin is an online currency also known as decentralized cryptocurrency which was created in October 2011

How to use Litecoin?

  • This cryptocurrency can be used to buy online services such as developing web projects or to buy products such as jewelry or simply to buy your favorite tea
  • Litecoin provides an easy and secure platform to carry out transactions and does not charge any commission for receiving or canceling transactions
  • Due to its volatility Litecoin is one of the favorite cryptocurrency of traders looking for high profit margins
  • When operating or trading with litecoin through CFDs, the level of capital needed is much lower.

Benefits of Litecoin

  • All transactions are processed and saved in a public network by means of blockchain technology also known as block technology, therefore all transactions can be verified immediately
  • With Litecoin it is possible to instantly send money anywhere in the world to anyone
  • One of the most attractive features of this cryptocurrency is that there are no commissions or charges for transactions. For example a business in England can receive a payment from a customer in New York in a matter of minutes additionally both parties can check that the payment was sent and received.
  • Litecoin works by using secure software that makes payments as easy as sending an email. All transactions can be made either from a computer, tablet or mobile phone
  • The maximum amount of litecoins issuance is 84,000,000 so you never have to worry about inflation decreasing the value of litecoin
  • Litecoin has managed to consolidate itself in the currency market, which allows it to exchange with different currencies. Millions of litecoins are exchanged daily in different parts of the world. So it is possible to exchange dollars, euros, pounds and many other currencies for litecoins, the possibilities are endless

What are the main technologies used by Litecoin?

Blockchain Technology

Litecoin like other ciptodivisas use the blockchain technology which is supported by the P2P network (Peer to Peer) this type of networks allow the direct exchange of information between interconnected computers, in this way the users of the network can exchange information completely independent of a physical network without having to submit to restrictions of some kind administrative authority.

Segwit Technology

It is a software update developed by the Bitcoin Core team: Its main objective is to allow the increase in the number of transactions per block as well as to provide security for attacks of malleability of transactions by third parties.

Main differences that make Litecoin much more efficient than bitcoin

  1. Litecoin performs the processing of a block every 2.5 seconds while bitcoin does it in 10 minutes.
  2. The confirmation of litecoin transactions is much faster than bitcoin, due to the processing time of each block.
  3. Litecoin has an emission limit of 84 million while the limit of bitcoin is much lower and is only 21 million.

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