LITECOIN is currently ranked among the top five crypts in the market. In the past year, from USD 4.26 it has grown to USD 168.49, which is 3855.16% profitability. Why has he experienced this remarkable growth and could it be possible to overtake the Bitcoin?
Litecoin is considered an alternative form of Bitcoin. So cryptocurrency which is intended to be used as a means of payment and a value-holder. It is a decentralized peer-to-peer crypto(from user to user), which allows direct exchange between wallets, and due to a different way of block processing, it is also very suitable for paying small amounts.
Bitcoin's restriction, when used as a means of payment, was demonstrated with a large increase in the number of transactions on its data block chain. Each block has a size of 1MB, equivalent to 21 million transactions and closes every 10 minutes. Therefore, the timing of the confirmation of the transactions executed increased from a few seconds to several hours, which in case of payment of the coffee was no longer acceptable, or the price of the transactions rose above the price of the good you paid.
Will Litecoin ever exceed Bitcoin?
This year, Litecoin achieved remarkable growth, as the price increased by 3855.16 percent, compared to Bitcoin's 593.39 percent. Bitcoin had a problem with an expanded transaction speed, as users flooded its network - many said it became a victim of their own success, and the chain became too overloaded.
In spite of Liteco's faster and less expensive chain of blocks, experts do not attach to him greater opportunities to become a leading crypt. "Bitcoin is the first crypt of the market, so it has the advantage and visibility!" Explained Nicholas Cawley, Daily FX analyst for Express.uk.
Otherwise, she looks at the possibility of Litecoin overtaking BitcoinCash, the current fourth largest crypt of the world. "I think Litecoin will overtake Bitcoin Cash, but it will be difficult to beat Bitcoin under market capitalization conditions," says Cawley. There are currently 17 million Bitcoin Cash coins out of a total of 21 million in circulation. Litecoin, on the other hand, has a circulation of 55.5 million coins from a total of 84 million. In the event that the relationship between prices remains the same, Litecoina's market capitalization will grow faster than Bitcon Cash.
According to Cawley, Litecoin can get a fresh start with the Litepal payment system and a linked Litepay payment card, which can be a key advantage over BitcoinCash.
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