The last few weeks have been hectic for anyone interested in alternative currencies , mainly due to a record value of Bitcoin (BTC ), which for the first time exceeded $ 1000 per coin, but also by an otherwise intelligent appreciation cryptographic money the least known Litecoin (LTC ) . Still unknown to the general public, Litecoin has shown enough potential to establish itself as an alternative or complement to Bitcoin , because the system is reliable and , according to experts, could bring technical solutions to the problems facing the BTC community.
Unlike Bitcoin , born father still anonymous, known only by the pseudonym Satoshi Nakamoto , the creator Litecoin have to face and biography . A graduate of MIT , Charles Lee is a software engineer who has worked for Google and even helped write code that is compatible with the operating system of the search giant , Chrome OS . As a complement to their daily project work , he decided to write the Bitcoin , trying to correct some of the flaws he saw in the development of cryptographic currency. In an earlier foray into the arena of alternative currencies , Lee tried to toss the coin Fairbrix , which failed precisely because technical instabilities. In October 2011 , it launched a best believe, to be known as Litecoin and the future would be symbolized by the silver instead of gold in the Bitcoin draws. The idea is precisely that this is the silver to gold Bitcoin - ie a lighter and plentiful choice.
Set in a universe circulating in dozens of other alternative currencies budding Lee simply called "fraud" , the Litecoin was slowly finding their space. Over time, the LTC was earning his own mining community and stakeholders , most derivatives Bitcoin community itself, and thus managed to establish itself as the second most important currency in the sector . The figures do not yet compare to the BTC , but its growth is occurring faster than it was with Bitcoin in its early days . On the morning of the last day 28/11 , the economy Litecoin surpassed $ 1 billion. In January, a Litecoin currency may be acquired by measly 0.07 cents , whereas now the end of November , the value exceeds $ 40 at the time of writing the article.
The similarities between BTC and LTC are widely greater than the differences , but we can say that there is a relevant technical contrast between them , helps to understand that even the recent popularity of LTC . The Litecoin is a change from the original design and Bitcoin was designed to release four times more than the cryptographic coin money that preceded it, in an effort to prevent the currency from becoming excessively escarça and expensive over time . The transactions are also processed more easily and mining is more " inclusive " , allowing regular teams can compete with equanimity called ' digital Drills . The adoption of a technology called Scrypt Litecoin is to level the miners and reduce the advantage of those who use and super powerful machines designed to compete with the coins.
But if the growth of Bitcoin seems to be taking Litecoin on the tape , the fact is that there are other reasons for this than purely technical . With the value of BTC and spend the $ 1,000 barrier , the most famous passes cryptographic currencies have to be less accessible for a regular user, and its mining has become longtime area specialists and supermachines stage. With still reasonably low prices and a community still in training , LTC has a credible story and shows a possible viable alternative Mainstream , and has been attracting a growing audience.
A considerable part of the most important markets in the world and also trading BTC LTC , leaving the entrance of some of the major companies , including Mt.Gox , soon also must enter the boat. Lee left Google and has been working on solutions for the implementation Coinbase and spend most of their time spreading the LTC . However, we can not ignore that there are still great challenges for further appreciation of the LTC . One is the very low number of commercial , digital and physical stores that accept the LTC as currency . Another is the need for greater confidence in LTC as a currency that is here to stay and have a reasonable level of Bitcoin seems that you have achieved stability. In this second aspect , the core of Litecoin and organization to put a foundation in the mold of Bitcoin Foundation, responsible for standardization and spend an image of legality and confidence to BTC and companies linked to it.
For the foreseeable future, Lee believes the Litecoin should thrive in marriage , not in opposition to Bitcoin . In an interview with Coindesk says that " LTC is about two years behind the BTC in terms of adoption , the most interesting is to look forward . " " If we are wrong all Litecoin fill in Bitcoin . Shall be a greater adoption traders , and become less speculative and more useful , "he says . A scenario in which Bitcoin can be used for the most expensive and occupy space Litecoin microtransactions purchases are also described. Interesting, is not it?
Unlike Bitcoin , born father still anonymous, known only by the pseudonym Satoshi Nakamoto , the creator Litecoin have to face and biography . A graduate of MIT , Charles Lee is a software engineer who has worked for Google and even helped write code that is compatible with the operating system of the search giant , Chrome OS . As a complement to their daily project work , he decided to write the Bitcoin , trying to correct some of the flaws he saw in the development of cryptographic currency. In an earlier foray into the arena of alternative currencies , Lee tried to toss the coin Fairbrix , which failed precisely because technical instabilities. In October 2011 , it launched a best believe, to be known as Litecoin and the future would be symbolized by the silver instead of gold in the Bitcoin draws. The idea is precisely that this is the silver to gold Bitcoin - ie a lighter and plentiful choice.
Set in a universe circulating in dozens of other alternative currencies budding Lee simply called "fraud" , the Litecoin was slowly finding their space. Over time, the LTC was earning his own mining community and stakeholders , most derivatives Bitcoin community itself, and thus managed to establish itself as the second most important currency in the sector . The figures do not yet compare to the BTC , but its growth is occurring faster than it was with Bitcoin in its early days . On the morning of the last day 28/11 , the economy Litecoin surpassed $ 1 billion. In January, a Litecoin currency may be acquired by measly 0.07 cents , whereas now the end of November , the value exceeds $ 40 at the time of writing the article.
The similarities between BTC and LTC are widely greater than the differences , but we can say that there is a relevant technical contrast between them , helps to understand that even the recent popularity of LTC . The Litecoin is a change from the original design and Bitcoin was designed to release four times more than the cryptographic coin money that preceded it, in an effort to prevent the currency from becoming excessively escarça and expensive over time . The transactions are also processed more easily and mining is more " inclusive " , allowing regular teams can compete with equanimity called ' digital Drills . The adoption of a technology called Scrypt Litecoin is to level the miners and reduce the advantage of those who use and super powerful machines designed to compete with the coins.
But if the growth of Bitcoin seems to be taking Litecoin on the tape , the fact is that there are other reasons for this than purely technical . With the value of BTC and spend the $ 1,000 barrier , the most famous passes cryptographic currencies have to be less accessible for a regular user, and its mining has become longtime area specialists and supermachines stage. With still reasonably low prices and a community still in training , LTC has a credible story and shows a possible viable alternative Mainstream , and has been attracting a growing audience.
A considerable part of the most important markets in the world and also trading BTC LTC , leaving the entrance of some of the major companies , including Mt.Gox , soon also must enter the boat. Lee left Google and has been working on solutions for the implementation Coinbase and spend most of their time spreading the LTC . However, we can not ignore that there are still great challenges for further appreciation of the LTC . One is the very low number of commercial , digital and physical stores that accept the LTC as currency . Another is the need for greater confidence in LTC as a currency that is here to stay and have a reasonable level of Bitcoin seems that you have achieved stability. In this second aspect , the core of Litecoin and organization to put a foundation in the mold of Bitcoin Foundation, responsible for standardization and spend an image of legality and confidence to BTC and companies linked to it.
For the foreseeable future, Lee believes the Litecoin should thrive in marriage , not in opposition to Bitcoin . In an interview with Coindesk says that " LTC is about two years behind the BTC in terms of adoption , the most interesting is to look forward . " " If we are wrong all Litecoin fill in Bitcoin . Shall be a greater adoption traders , and become less speculative and more useful , "he says . A scenario in which Bitcoin can be used for the most expensive and occupy space Litecoin microtransactions purchases are also described. Interesting, is not it?