Should You Invest In Litecoin?

Brief about Litecoin:
Litecoin(LTC) or popularly known as Bitcoin's silver was released on GitHub in October 2011 by famous twitter troller Charlie Lee. It has given its name as Bitcoin's silver for a particular reason as Lee wants to go along with Bitcoin rather than against it. It has reached the market cap of $10 billion(as of writing) over a long period of time with maximum supply being 84 million. It means that only 84 million coins will ever be generated to counter deflation in price. It has an avg. block time of 2.5 minutes means it aims to process a block with this much time. It uses 'Scrypt' in its POW(Proof-of-work algorithm).
Litecoin is P2P decentralized digital cryptocurrency. In layman's term, it can be used for anything from buying your cup of coffee to online purchasing to paying the bill. But why should we use Litecoin or for that matter any digital cryptocurrency when we can use fiat currencies(USD, INR, EUR etc.)?

Why should we go for digital cryptocurrency?
The answer to that question is:

Transaction fees are in cents compared to other payment media like credit card companies, bank transactions etc. All transactions have been recorded on a distributed public ledger called blockchain. Blockchain in a simple word is a register which contains all previous records or transactions done at any given time. So we can verify any transactions at any time with the help of blockchain.
It's instant and time-saving and nobody has control over it. It can't be banned at any moment as you will have complete control over your coins. It's run on POW(proof of work) based on mathematical computation so not centralized.
Now we know that digital cryptocurrency has many benefits but there are so many coins in the crypto world but which one is better? So now we will discuss why should we choose Litecoin?

Why do we need Litecoin:
In my view, any cryptocurrency will be valued based on few points like the adoption of the coin, where will the coin go in coming years based on technology improvement and their dev team and person behind the project. So I will discuss each point in details now.

1)Adoption:
If you will see cryptocurrency history then Litecoin has always been in the top currencies by market capitalization(currently at no. 5 ). It has been trading in all big exchanges and has a very good reputation like Bitcoin. Many coins came and went but LTC is here. So we can see the adoption is there and people believe in this coin. You can see the increasing number of Litecoin transactions over here:

2)Technical perspective:
Litecoin has tested Lightning Network transactions and atomic swap on their network which is a big revolution in cryptocurrency. Lightening network is off-chain L2 layer protocol through which one can send their coin faster and cheaper without waiting for the confirmation from the blockchain. It may increase the scalability to millions and billions of transactions per sec, which is a big deal. Cross-chain atomic swap can help to make transactions across blockchains without using any 3rd party or exchanges which will further reduce the cost and increase the security. Currently, lightning cross-chain atomic swaps have been done from Bitcoin to Litecoin. Now they are working on confidential transactions as well. So overall Litecoin looks good in technical perspective.

2)Statistical history:
If you will see the charts then it has been very consistent with its price and having low volatility. What I have observed that when BTC drops heavily then LTC will get less affected compared to others.

In short,I always believe that any project's future will depend on their leader and development teams behind it. Charlie Lee has been very active on social media and being very open about issue cryptocurrency is facing right now. For me, it looks like that he knows what he is doing and already working on the future of cryptocurrency. So for me, LTC is a big yes and looks very promising in investment-wise as well.

I have published this article on Bharatafinance. You can have a
look there as well.