Interest in bitcoin also included other digital currencies, such as ethereum and litecoins, and drew them into a vortex of modern golden fever.
Litecoin ranges from $ 250 to $ 325 these days, at the beginning of the year it was worth only four dollars.
Litecoin was created in 2011, as an alternative to bitcoin, and it functions on a decentralized blockchain network, only that, unlike bitcoins, it can produce a block of information, which includes encrypted data and details of transactions, and every two minutes, which is four times faster than bitcoin. Litecoin exists much longer than other alternatives, such as the ethereum and bitcoin cash currency, and, like those, it can be used to safely store physical money, which does not require the name of the user or details of bank accounts. It is also important that it is much faster, requiring less energy from bitcoin, and that transaction fees are significantly lower, usually less than one dollar.
This digital currency was developed by Charlie Lee, a former engineer at Google, and by being interested in bitcoin, he wanted to find out more about him. He called it “silver, in relation to bitcoin and gold,” and now he is the director of the engineering department within the largest trading platform for crypto-coins – Coinbase.
If all the information is taken into account, the growth of litecoins was faster this year than the increase in the value of bitcoins. Some argue that the interest in battle is just the way, while others think it’s about investors wanting to invest in different crypts, and at least some of them provide security if one of them is crashing. Growth in value was somewhat contributed by the engagement of the currency creators, as Lee, unlike those who support bitcoin, appeared during all major conferences during the year, and spoke about the importance of litecoins and its possible uses.
Litecoin comes in the same way as bitcoin – the purchase of a costly super-computer that would be used for mining (which is not a realistic scenario for most ordinary mortals, since, besides the price of computers, there is an insignificant amount that should be electricity payments), or through a crypto-exchange platform, and ATM’s ATMs, which function as ordinary ATMs, and allow for the payment of money to be used for the purchase of crypts.