Litecoin is the sixth-largest cryptocurrency. The supporters of Litecoin often tout it as “silver to bitcoin’s digital gold,” even though one cryptocurrency has said that it is also a diamond in the rough.
Mati Greenspan is The senior market analyst at eToro. On Tuesday Mati Greenspan published an eight-page report. It this report he argued that the price of litecoin is trading way below what it should be worth.
On the technical side, he notes the importance of Litecoin, a Proof-of-Work (PoW) blockchain, being the dominant coin mined using the scrypt algorithm. As long as this remains the case, Litecoin will remain highly-resistant to 51 percent attacks since there is not enough surplus hashpower to mount an assault on its network.
He also lauds Litecoin’s developers for structuring the cryptocurrency as a complement to Bitcoin rather than a competitor, enabling LTC to tether itself to the flagship cryptocurrency by adopting innovations such as Segregated Witness (SegWit) and the Lightning Network (LN).
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