Why is the Litecoin crypto currency digital silver and will it be able to compete for gold?

When it comes to Forke Bitcoin, then for some reason everyone starts to think about Bitcoin Cash, forgetting that the most outstanding forking of it is Litecoin. And if you have heard something about crypto-currencies, then for sure, you know that this coin was awarded the status of "digital silver". Why is Lightcoin so called, despite the fact that he is by no means second in terms of capitalization, does he have a prospect and should we buy lightcoins?

What you need to know about the Crypto currency Litecoin?

Лайткоин - криптовалюта, which for a long time was not appreciated. About it many seem to have heard, but as an object of investment, it was considered extremely rare. Nevertheless, a few years after the appearance of the coin, they looked at it differently and even called digital silver for the second place in terms of capitalization. And though this honorable pedestal Litecoin long lost, for all he remained silver, and his popularity continues to grow steadily.

Earlier there was an opinion that fork bitkoin can not imagine anything, since it is his copy, even if it is inaccurate. This is today, for example Bitcoin Cache, we all know that fork can not only make a lot of noise, but also take a confident position in the market. And although initially the attitude towards Lightcoin was mostly skeptical, nevertheless very soon they began to look at him with interest.

One of Light's main differences from old Bitkoin is that his developer has not disappeared anywhere, has not got lost, he is quite a public person and actively develops his offspring. Charles Lee, namely the name of the creator of the second after Namecoin fork cue, founded his crypto in 2011 year and did not think to make a competitor for the main digital unit. In his plans, not only did not enter into competition with the bump - in the creation of his project, he even enlisted the support of Bitcoin developers. And you need to pay tribute to the programmer, who, being a member of Google, in his spare time created his own crypto currency.

Charles Lee did not encroach on Bitcoin's laurels, but only planned to improve it a little. On the flaws of the cue already then, in the distant 2011 year it was known, and Lee had an idea to make a crypt, which would become a lighter version of it and a kind of field for combat tests. It was this role assigned to Lightcoin and he was to take on the mission of testing various developments for bitcoin. In practice, it was really possible to see how many ideas successfully implemented in "digital silver", soon migrated to "digital gold".

Despite the fact that Litecoin with Bitcoin have the same source code, the differences between them are enormous. First of all, the fork boasts faster transactions, since the blocks in the blockchain are generated several times faster than that of the cue ball, and the operations themselves are more profitable due to low commissions. At the same time, the production of lightcoin is more complicated and brings a smaller reward than in the case of the main cryptocurrency, and the number of the final generation is 84 million. All this will contribute to the future growth of the price of coins.            

Bitcoin and Lightcoin are rivals or brothers?

If you carefully read the above text, then for sure, you guessed that Lightcoin is not at all an opponent Bitcoin. This is not in the plans of the developer, and in itself, light itself is more like a reserve currency, which is needed in case of an unexpected turn of events around the cue ball. This is confirmed by the fact that the team of developers of the main crypto currency and Litecoin cooperate and, by the way, the first atomic transaction in the history of the crypto-currency world, which allows one to transfer coins from one block to another without intermediaries, was held between these two systems.

Moreover, Lightcoin can be called one of the most useful for the whole community project, the creator of which puts on the first place the achievements of technical developments, rather than the rate or capitalization.

The Lightcoyne Course (LTC)

Long gone are the times when Litecoin cost a mere penny - today its value exceeds 200 $ apiece. But this is not a historical maximum, since in December 2017 the price for LTC exceeded 330 $. If we consider that from the year 2013 Litecoin the rate was only 3 $ for one coin, and practically until the spring of 2017 year did not show active growth, one can only envy how the first investors, who noticed in it the prospect, could earn.

If we talk about the course of Lightcoin to the ruble, then at the present time it is about 11,600 rub. for a unit.

Where to buy Litecoin?

It is difficult not to find Litecoin on crypto-exchange exchanges, as it is massively represented on them. This is not surprising, the crypto currency is not new and had time to prove itself in the market, users need it, and demand generates a proposal.

• OKEx - on the stock exchange traded about 20% of all Lightcoyne and such turnover is even more attracted to it by traders interested in this coin. Operations are conducted in the directions with cryptodollar, dollar, bitcoin, ether.
• Bitfinex - a popular trading platform provides an opportunity to trade lightcoin paired with the dollar, bitcoin.
• Binance - The coin is traded with cryptodollar, bitcoin, ether, BNB token.
• Bitstamp - you can buy lightcoins for dollars, euros, bitcoins.
• Bittrex - exchange direction LTC-BTC, LTC-USDT, LTC-ETH.
• Poloniex - you can exchange "digital silver" for rolls, USDT.
• Kraken - trade with lightcoins is conducted in pairs with euro, dollar, bitcoin.

This is just a small list of exchanges and directions of exchange with Litecoin. In fact, there are a lot of them, and if you need some absolutely outlandish version of the exchange, then you can easily find it.

Litecoin Mining - how do they get "digital silver"?

In due time Лайткоин occupied the second position on capitalization after Биткоина, but has soon lost it and the guilty in it became Mining Litecoin. The fact is that the extraction of this coin has some features that overnight made it less popular for miners, which is why the capitalization of Lightcoin fell sharply.

In general, the mining of lights has the same features as the extraction of the cue ball, the main difference is only in the hashing function - scrypt instead of SHA-256 - the time of formation of the new unit and the confirmation method. Total generation of 84 million coins is planned, so miners will not be out of work soon. But producing lightcoins is not as profitable as “digital gold”. Although the generation rate of cryptocurrency blocks should contribute to active mining, but the complexity of mining is an order of magnitude greater than the difficulty in producing cue balls. The production efficiency of Lightcoin on the video processor is not much different from the production on the processor, and mining on asiki is lower in its efficiency by 10 times than in the case of Bitcoin. Thus, mining Litecoin outside the pool can be a loss-making endeavor - on a horse, as always, industrialists with their farms equipped for millions of dollars.  

If you still have not guessed why the mining led to the fall of Lightcoin from the top of the crypto currency Olympus, then remember the events of 2014, when the complexity of coin mining increased, and while the light then cost a penny, it was not profitable for the single loners to extract it. Because of this outflow of earners capitalization the coin fell sharply, and so did the Efirium - a holy place in the TOP crypto currency is empty.

Purse for storage of lightcoins Litecoin Core

What exactly is Lightcoin similar to its older brother, so this is wallet. Litecoin Core is created by analogy with Bitcoin Core and has a similar interface, so if you previously used an official client to store bitcoins, then difficulties with working with a lightweight client of Lightcoin would not exactly arise. It is not that light because it does not belong to the category of thick heavy wallets - it's still the same desktop version with its traditional pluses and shortcomings, but it weighs an order of magnitude less than bitcoin cor, and you do not have to wait for weeks for synchronization.

To create lightcore or use lighter and more convenient to use online wallets, multicurrency options or hybrids is a private matter for everyone. But if you are a connoisseur of security, then definitely prefer the client from the developers. You can start a Litecoin Core purse by downloading it to the official website crypto-currencies.

Fork Lightcoin Litecoin Cash   

The last months for Litecoin became a period of prosperity - its value has increased significantly after a long period of stagnation, new technologies were introduced into the work, and capitalization and the number of investors grow with incredible force. But not only investors are interested in a coin, but also those who wish to make money on its behalf. It is for these reasons that the Light Laikkoin fork called Litecoin Cash appeared.

The initiators of the ramifications on all corners trumpeted that the light needs improvements, although there are no reasons for this - no problems in the community, no disagreements in the ranks of the developers, moreover, the coin is actively developing and pleasing with its dynamics. The ill-fated fork did appear, but for some reason neither the active growth, nor any technologies, did not please, and Charles Lee even called its creators scammers. Currently, the perspective of the LCC looks very vague, and its value fluctuates around the dollar, and the coin rate is rapidly falling, down to -40% per day.

Therefore, we can safely say that the fork of Litecoin Cash is an extremely unreasonable investment, which can not be said about the Litecoin crypto currency. The project is a strong team of developers led by Charles Lee, continues to improve it and the future of the coin can be the most rosy. The increased interest of investors in the light confirms these assumptions, and the introduction of the Lightning Network solution and atomic transactions into the work can become a new era not only for Litecoin, but also for the main crypto currency. Therefore, if you still do not have this famous Forkkoin fork in your crypto port, then maybe it's time to look at it.