Crypto Academy Week 9 Season 2 Homework Post For @yohan2on [Litecoin]

Hello all....
Today I will try to do the homework given by professor @yohan2on about altcoins. As this week has entered season 2 at the crypto academy, maybe it can be said that my knowledge of cryptocurrency has increased a little, so I would like to thank the professors who gave a very good class the week before. This week I will try to discuss about Litecoin which is one of the homework options provided by professor @yohan2on.

Altcoins

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Before I talk about litecoin, I will try to explain a little about altcoins. Altcoins can be said to be one of the innovations or developments of bitcoin, this coin was created to complement the features that bitcoin does not yet have. Altcoins is expected to compete with bitcoins with several advantages that it provides.

It can be said that the features found in altcoins are more or less found in bitcoin, but altcoins still offer several advantages such as efficiency or inexpensive ways of transacting. This can be said to be quite interesting so that the cryptocurrency world is more varied so that users or digital coin miners can choose which coin is better or can be used both according to their needs and desires for what they will do next.

Litecoin (LTC)

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Litecoin is arguably one of the oldest crypto assets on the digital market. This coin has many similarities with bitcoin, but this coin was made as a form of modification or development of bitcoin, namely by having several differences which are expected to be useful for investors and cryptocurrency miners. The differences include transaction speed, costs, and inventory.

Litecoin is very popular so that this coin is certainly very safe, Litecoin is supported by cryptographic techniques so that it can guarantee the transaction and recording process according to the rules. Cryptography is usually used to regulate the supply and demand of this coin. So with this concept Litecoin is as trusted as bitcoin.

About Founded Litecoin (LTC)

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Litecoin was created in October 2011 by a former Google employee, named Charles Lee. Basic Lee is a computer scientist, he earned a master computer degree in 2000. Lee worked for google in 2007, while working as a google employee, Lee was very interested in a paper about bitcoin created by Satoshi Nagatomo. This was the beginning of Lee's interest in the crypto world, it didn't take long for Lee to create new coins as a form of innovation from bitcoin.

Litecoin (LTC) Chart and Price

source from coinmarketcap

As we can see from the picture above from the coinmarketcap source, the price of litecoin today is equivalent to 311.32 USD, and for the graph of the increase and decrease in the price it is very interesting to see because each year has a very large increase, by looking at this graph, This coin is very suitable as an investment option other than bitcoin. In this graph, Litecoin has experienced a decline in price at the end of 2017 and is slowly increasing again until now. If we look at the graph, it is not much different from the price chart of Bitcoin.

The Difference Between Litecoin and Bitcoin

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As we know from some of the explanations above, Litecoin was created to have many similarities from bitcoin, here I will summarize some of the differences between the two coins.

1. The time it takes for a Litecoin transaction is only about 2.5 minutes, whereas in bitcoin it takes about 10 minutes.
2. The maximum supply of coins from Litecoin is 84 million coins, Whereas in bitcoin the maximum is 21 million coins.
3. Litecoin Transaction Fees are cheaper than bitcoin.
4. The price of 1 litecoin today is 311.32 USD, meanwhile the price of 1 Bitcoin today is 62,112.66 USD.

Conclusion

Litecoin was created as a form of innovation from bitcoin. Litecoin has several advantages, namely the speed of transaction times, transaction fees, and supply. So with some of the advantages that Litecoin offers, this coin can be said to be an option for investing and transacting other than bitcoin.

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That's all my homework, hopefully it can be useful. Thanks .....

Cc:
@steemcurator01
@steemcurator02
@yohan2on