People continually talk about Litecoin and its primary competitors, Bitcoin, Dash, Ripple, Monero, and Ethereum. However, what does the future hold for them? Could it be possible that Litecoin, continuing with a recent trend, keeps growing and tops the projections set for this year?
Speaking of which, experts from various circles pointed out that Litecoin, currently traded at approximately $106, has the foundations to reach new heights in 2018. Some people are talking about an increase that can take its value to the $500 or $600 range, a tremendous percentage growth if sustained.
According to Forbes, there are at least five reasons for optimism when it comes to projecting Litecoin’s 2018 outlook. The first one is that Bitcoin’s growths and futures trading, which spiked its prices. We can safely say that any positive developments in the Bitcoin community directly benefits Litecoin, not only because it trickles down to Litecoin and other cryptocurrencies, but also because the added traffic within the Bitcoin network drives up transaction fees and clogs the system, causing migration towards the Litecoin project.
Litecoin Predictions: A solidly built network that oozes potential in 2018: Although some altcoins are earning prestige and global relevance with each passing day, Bitcoin is still hands down the most prominent cryptocurrency in a market with increasing appreciation of the benefits that cryptography and the blockchain technology can provide transactions.
However, that doesn’t mean that there isn’t space for altcoins to grow, and solidify their spots as successful ventures and companies. Among them, Litecoin seems to be the preferred option for savvy investors in the crypto universe. For reference, altcoins are all the distinct cryptocurrencies from Bitcoin, the industry’s leader since 2009, and Litecoin may the best, most secure, and the one with the most untapped potential.
Abbreviated LTC, or Ł, Litecoin can be defined as a peer-to-peer cryptocurrency and open source software project. It functions under the MIT/X11 license, and Charlie Lee created and developed it.
As is the case with Bitcoin and most altcoins, Litecoin is a decentralized entity, which means that it functions without a central authority or governance agency. The system allows the creation and transfer of tokens, based on an open source cryptographic protocol.
The latest release of Litecoin is the 0.15.1 version, from March 2018. C++ is the code language, and the compatible Operating Systems are Windows, OS X, Linux, Android. The Litecoin Core Development Team is the one in charge of the development.
As far as the ledger information, the timestamping scheme is Proof-of-work, and the hash function works around with scrypt. There is a block reward of 25 LTC, approximately until 2019, halved roughly every four years. The average block time is 2.5 minutes.