![]() In a time when the vast majority of the market is being labelled a security, Litecoin has remained removed from such classification. Regulatory Ambiguityĭue to the structuring of its launch (no pre-mine, no ICO) and continued reliance on a proof-of-work (PoW) consensus mechanism, Litecoin is not surrounded by the same level of regulatory ambiguity as most altcoins. As a result, it is able to boast nearly all the perks of Bitcoin, and more. Litecoin is an extremely versatile network that functions not only as a decentralized currency, but also supports scaling solutions like the Lightning Network, and most recently ordinal inscriptions. While the case is not as clear-cut with Litecoin, halving events are typically followed by a period in which the networks respective token rises in price as miners adapt to increased operating costs. The next instance of this is set to occur in Aug. Like Bitcoin, Litecoin not only boasts a fixed supply, but a known emissions schedule that sees its block rewards cut in half every four years. Unlike some networks where every transaction is obscured, the use of extension blocks is an optional feature, making the project much less likely to be removed from exchanges due to AML/KYC concerns. PrivateĪlthough not as private as a project like Monero, the use of extension blocks – which were made possible after the activation of Mimblewimble – allow for transaction details to be obscured. While this will of course vary, Litecoin has never suffered from runaway fees like Bitcoin and Ethereum, currently making it much more appealing for everyday use. Cheapįor even high-priority transactions, the Litecoin network boasts exceptionally cheap fees – currently hovering around $0.01. ![]() Once scaling solutions like the Lightning network are taken in to account, transaction settlement times are nearly instant, making it a perfect medium through which to transact value on a small or large scale. With 2-3min blocktimes and minimal network congestion, Litecoin is one of the faster PoW networks on offer today. While not an exhaustive list, the following are a few examples of these. Why Litecoin Still Has a FutureĪs stated, Litecoin may have a bright future for a variety of reasons. With the recent crackdown on altcoins by the SEC, and anticipation over a halving only 51 days away, now may just be the time for Litecoin to recapture its share of the spotlight and thrive during a period of uncertainty. ![]() Despite the proliferation of altcoins over the past few years, Litecoin remains one of the most widely adopted and utilized networks.īeyond usage, there are a variety of reasons that point to the potential of this project having yet to be fully tapped. Detractors calling Litecoin a ‘dead' project, or a ‘shitcoin', are simply wrong.
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