Although there are several ‘Altcoins’ available today, only a few are as reliable as the Litecoin that was created by a genius like Charlie Lee, a former Google employee in the year 2011! Whether the reliability of the Litecoin or the availability of reliable means like the Crypto CFD Trader, the automated cryptocurrency CFD trading robot to trade the Litecoin urged you to invest in the digital coin doesn’t matter because, all that matters is you enjoying the desired success out of this investment choice, which is assured by these 4 merits of the Litecoin!
- An open-source project
If you are unaware, Litecoin is an open-source project, which means any future technical advancements like Segwit and lightning network or other innovations can happen without causing many issues! This flexibility and capability of the Litecoin interest the experts and in there also lies the success of the Litecoin, indisputably!
- Faster transaction speed
While Bitcoin still remains the favorite of many, not to forget the slower transaction issues faced by it! For those who seek a faster remedy, this Litecoin might be the solution, as it is known for its faster transaction rate! In fact, one of the main objectives of Charlie Lee in creating the Litecoin is to offer a faster payment solution than the Bitcoin, which is well-taken care of as transactions are completed in an average of 2.5 minutes as opposed to the 10-minutes transaction speed of the Bitcoin!
- Affordable solution
Slowly the problem of increasing transaction fee has started troubling the Bitcoin that urges many to find an alternative affordable solution! The Litecoin might be that alternative solution, as the fee involved is not only lesser, sometimes, almost negligible too!
- A better proof-of-work algorithm
If you are unaware, what the term proof-of-work means, then, understand, that it denotes the process, in where the miners use the sophisticated computers to solve the specific complex equations that have the key to validate transactions on the network! This proof-of-work concept or the algorithm used by the Bitcoin is complicated, as it is highly processor-intensive! Which means cost-involving special devices are required to effectuate the process of mining the Bitcoins that might not be appreciable or affordable by everyone!
Whereas the Litecoin’s proof-of-work algorithm is memory-intensive, which means the less cost-intensive GPUs or the Graphic Processing Units are more than enough to perform the mining action flawlessly! This, naturally, encourages many to resort to the Litecoin mining process, which means more number of Litecoin in circulation aka to invest and earn!