LITECOIN ANALYSIS (LTC US DOLLAR)


Litecoin Technical Analysis: LTC/USD retested key near-term trend line, but sent packing again for the south

Litecoin, Bitcoin Cash Are Latest Crypto Additions to Robinhood Investing App

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Characteristics of Litecoin

Litecoin is an open-source cryptocurrency created on October 7, 2011. It emerged as an alternative to Bitcoin, improving some of its basic characteristics:

  • First, it has a greater speed in the verification and processing of its blocks, which are carried out in 2.5 minutes while the time required by the Bitcoin is 10 minutes.
  • Second, the Bitcoin will reach its total volume in 2140, when it will have a total of 21 million units. The Litecoin will have a maximum of 84 million units.
  • Third, the Litecoin has a function that simplifies and reduces the energy necessary to perform the mining of the cryptocurrency called Scrypt proof of work.

Among the main similarities between Litecoin and Bitcoin::

  • Both are based on the blockchain
  • It allows a mining process
  • The division of the main unit of both Litecoin and Bitcoin is 8 decimals.
  • The difficulty of mining Bitcoin and Litecoin increases every 2016 blocks.