HOMEWORK FOR @yohan2on of ALTCOINS / by PEDRO SAA.T

An ALTCOIN is an alternative to bitcoin, that's where its name comes from ALT = alternative COIN = currency ALTCOIN = alternate currency These types of coins were born thanks to the success of bitcoin, in fact bitcoin is considered the mother of * altcoins, however these coins promise to fix errors and limitations of bitcoin, one of the limitations is that bitcoin mining reaches up to 21 million, However, in an alternative currency such as litecoin, which is the one we will be talking about today, there will be a mining of up to 84 million litecoins. Since we know that it is an * altcoin * we will delve more into one of them (* LITECOIN *).

LTC was created by Charlie Lee, the headquarters of the foundation if anonymous from LTC's profit as it is litecoin foundation is located in Singapore, this foundation is in charge of improving the development of the currency for a social purpose, implementing high-end technology to apply it in this token. LITECOIN was launched on May 6, 2019 on the github platform by an open source client that currently goes by the name * litecoin core *. LITECOIN has been described by the media as an alternative to bitcoin, but with lower transaction fees. Its creation and transaction method is based on the cryptographic protocol.

The price of bitcoin on April 23, 2013 was USD 3.86 and in BTC 0.03, on the date of November 25, 2017 the currency reached 70 euros, increased from 3 euros to 70 euros in just 7 months. Litecoin is currently priced at $ 25.17.

* Litecoin * is traded for fiat money, bitcoins or other cryptocurrencies through exchange platforms. Litecoin transactions are irreversible so there is no danger of fraudulent reversals.

Litecoin transactions, balances and emissions are very similar to that of bitcoin, the emission rate of litecoin is decreasing and tends to zero, there are differences between bitcoin and litecoin although they are very similar, an example is that unlike From bitcoin, litecoin production is memory intensive, which makes it suitable for the graphic processing unit mining system or its initials (GPU) which is a dedicated processor for graphic processing or floating point operations. Its block generation lasts 2.5 minutes, this is 4 times faster than bitcoin, the weight and a half of the blocks is 65KB which makes its blockchain light. The LTC is faster because it works with scrypt, unlike the BTC that works with SHA-2, but the differences do not stop there, the halving in BTC occurs at 210,000 blocks, unlike the LTC it occurs every 840.00. blocks, the number needed for a halving in LTC is four times that of BTC.

As LTC is a famous cryptocurrency and one of the first, it can be easily purchased, if you live in the United States you can easily buy it with a credit card or a bank account, on the contrary if you live in Latin America, Africa or Asia you should buy bitcoin and transform them via * changelly *.

FUENTE

I hope the content read has been useful,thanks to @yohan2on for the class, if you have any questions you can leave them in the comments and I will answer them with pleasure. With nothing more to add, I say goodbye.
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Text written by Pedro Jose Saa Tundidor.