We are talking about different influences from the main chain of respondents. This is due to the existence of the Bitcoin program code. In other words, anyone can follow the convert ltc to btc and to create their own cryptocurrency.
However, given that this process cannot be called such a major fork in the cryptocurrency market, it is not popular and eventually disappears from the vastness of the global network.
What is litecoin?
But this does not mean that the currency was released in order to replace Bitcoin. Initially, it was supposed to create a popular additional payment instrument.
So, Internet users are presented with Litecoin as a cryptocurrency for mutual settlements in the global network. It is a decentralized currency that is not controlled or subordinate to the leadership of the central government.
What makes Litecoin unique?
Although the Litecoin code is based on the Bitcoin code, this cryptocurrency has its own goals. It acts as a faster, lighter version of Bitcoin, rather than trying to compete with it. In addition, Litecoin has a dedicated development team working to improve the network, and many of the updates they released ended up being used on the Bitcoin network (e.g. SegWit and Lightning Network)
Despite the fact that in comparison with all other crypto money there is no place.
Charlie Lee figured out how to reduce the time for transactions in the system. As a result, different users of the system were able to take part in the process of obtaining crypto-money.
Due to technological manipulations, transactions decreased to 2.5 minutes. Hence the advantage of Litecoin – the message of the transaction with the possibility of a larger volume of exchange processes. If you tried to carry out transactions in Litecoins and Bitcoins, then you probably now understand what and what the difference in the speed of transfers, we are talking about.This has often been discussed on this site https://paybis.com/
In addition, by receiving LTC in exchange for BTC, which is slow in terms of transactions, users acquire a fast payment method, which also does not require large fees.
How to exchange Bitcoin to Litecoin:
- Wait for a suitable course – it is broadcast directly to the page.
- Tell the system your account and wait for the transfer.
Exchange transactions generally take a matter of minutes as Crypterum uses advanced software. The cost of an exchange on exchanges is always lower than on individual special services. Read more info here: https://letsexchange.io/
Trade on Crypterum, use our convenient exchange and many other useful tools for traders.
Litecoin was created by Charlie Lee / He watched Bitcoin closely in the past and found some things that could be improved. For example, a decrease in the time for a transaction, a decrease in cost. So, in October 2011, he published a white paper introducing Litecoin (LTC). The growth in popularity of Litecoin (LTC) began immediately after its creation, and it took Litecoin only two years to reach a market capitalization of $ 1 billion. Over time, Litecoin gradually increased its value, although it has experienced many sharp ups and downs in its history.
There are many projects built on the Litecoin platform such as Miningcore, Simcoin, Crypto Bar, Cryptex, etc. The main goal of all these projects is to make using the blockchain easier and more convenient.
One of the most common use cases for Litecoin (LTC) is PayPal. If you are a US citizen, you can use PayPal to buy, sell, pay, and store your LTC coins.