Sharing many similarities with its fraternal counterpart, Litecoin has often been termed the “Silver” to Bitcoin’s “Gold”. Currently holding a market capitalisation above 10 billion, Litecoin is well-established in the cryptoverse. But what is it exactly and how is the altcoin different from Bitcoin?
Litecoin is a fully decentralized, open-source digital currency that originally sought to improve on Bitcoin. Like Bitcoin, it is highly attractive for users who want instant, near zero costs payments all over the world.
The Litecoin blockchain enjoys a robust industry, trading volume and liquidity, and is considered a proven payment medium and a counterpart to Bitcoin. In fact, the coin soared to a whopping high of $370 in December of 2017, a year-on-year increase of over 4,500% as listed on CoinMarketCap.
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