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What is Litecoin?
The last few weeks were hectic for those interested alternative currencies, mainly due to the incredible rise in value for Bitcoin. The truth is that there are great options that seem to be moving forward quite well too, and Litecoin might just be one of the best alternative candidates available right now.
One of The Strongest Altcoins
The Litecoin is showing quite a bit of potential to be established as an alternative or maybe even as a complement to Bitcoin. This seems possible because it has a reliable system and according to experts, this would potentially bring up some technical solutions to many problems being faces by the BTC owners and communities.
MIT Garduate Charlie Lee
The creator of Litecoin is someone that a large number of people involved in the cryptocurrency world have heard of because he has been public about this. He studied at MIT and his name is Charlie Lee. He is a software engineer who has been able to work with Google and has even helped write the code for the powerful Chrome software. He took it as a side project to his daily work to rewrite the Bitcoin, and he created a version of it that corrects many issues. This is the reason why he decided to call it Litecoin as it serves as the perfect name for a coin that is more polished and bug free to a higher extent than Bitcoin.
The Birth of Litecoin
He had already been involved in the area of the alternative currencies, with Fairbrix, but he project failed due to technical issues that kept it from being a reality that was successfully launched. Then in October 2011, he was able to release a more sophisticated version, one which would come to be known in the cryptocurrency world as Litecoin and would be a lighter and less clutters with more solid programming involved. Inspired in a very wide universe in which there are many other emerging projects of alternative currencies, Litecoin has stood out due to how well it has been developed and how little, if any complications people are having with their transactions.
Will Litecoin Beat Bitcoin?
The value of this coin still do not compare with BTC, but it is growing quite fast and it could end up beating BTC at some point depending on how things develop as far as the support given to Litecoin by investors. This is really what it all comes down to when it comes to which cryptocurrencies make it further than others. It’s about who is able to advertise their currency with better methods that convince a larger number of investors to get involved. This is the one thing that truly determines the value of any cryptocurrency and Bitcoin has been able to establish itself at the top be cause of that. It’s not the best one in technical terms, but it is the most popular.
It’s early to say what will happen with this particular coin, but things are pointing to a possible boost in its value if it continues to get enough exposure with the right audience.