Forget About Bitcoin And Focus On Litecoin

Today, we need to talk about a cryptocurrency that is delivering incredible returns to the holders. We are not talking about BTC, rather about the Litecoin, which has almost similar technology, but it is performing even better.But, there is more.The most interesting in the year 2017 is that the amount of Litecoin exchanged has increased quite a bit. We believe that the coin is becoming well known and many more market participants are willing to use it. Have a look at the following chart and note that some days more than 1,000 million coins changed hands in 2017. Four years Chart for Litecoin (LTC) from https://coinmarketcap.com/currencies/litecoin/#chartTechnologyLike we do when we assess companies, we visited the company's website to understand how the Litecoin works. We found that Litecoin, like BTC, is a peer-to-peer Internet currency allowing "instant, near-zero cost payments to anyone in the world."In addition, it is also decentralized without any central authorities, which we appreciate. You know how this works. The Fed controls the supply of USD and tends to control its price. We forget about this kind of mechanism in Litecoin, thus we can also forget about inflation created by central bankers. We believe that this is good news!But, there is more.In comparison to BTC, Litecoin is able to process a block every 2.5 minutes while BTC does it in 10 minutes. According to developers, this feature makes Litecoin superior to the BTC. It offers faster transaction confirmation.Additionally, Litecoin is said to offer improved storage efficiency. The following text was obtained from an academic paper:

"Litecoin uses in its proof-of-work algorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard." Source

MiningThere is another interesting fact that explains why the volume has recently increased. It is not only that this new currency is becoming popular, rather the amount of Litecoins is increasing.Why?Miners receive 25 new Litecoins per block (this amount is halved every four years). This means that they are expected to create 84 million Litecoins in the future, which is four times the units as Bitcoin.How are miners affecting the Litecoin price?Litecoin price will be affected by supply and demand forces. As time passes, it is becoming more difficult to mine Litecoins, which means that the supply will diminish and the price should go up. Hence, we believe that it is a good time to enter the Litecoin network, which commenced not long time ago; in 2011.DemandWe need to assess the demand, as it could push up the price too. Microeconomics theory notes that the higher the demand for coins, the higher its price. Thus, if the Litecoin is used more and more to buy and sell products online, its price will increase.According to litecoin.com, the demand already exists in the market, which is great news. Have a look at the following video, wherein it is noted how the currency is being used:https://youtu.be/q7B7S88RtV8SourceIs there liquidity?Yes, that's good news. The cryptocurrency is accepted in almost every trading exchange known. Big exchanges like Gdax, BTCChina, Wex, ExpressCoin and many others accept and trade the Litecoin every day. We appreciate it because it shows that many market participants exist out there.That's, in our opinion, the biggest asset hidden in this currency. If there is liquidity, the currency allows transferring wealth between market participants, which is the main point we need to requite from any new coin.How is the liquidity created? - Social Media We appreciate that a social media network has been created so that the market participants can discuss the future of the currency. In addition, it helps new market participants get to know the currency.Have a look at the following Litecoin communities:

• Litecoin Forums
• Litecoin Telegram
• Reddit Litecoin
• Search for Users on Twitter
• IRC FreeNode (#litecoin, for general users and #litecoin-dev for developers).

ConclusionCurrently trading with a market cap of $5 billion, Litecoin is an exciting story among cryptocurrencies. With a total circulation supply of 54,031,858 LTC and a maximum amount of 84,000,000 LTC, we believe that it is an interesting time to join the community. In our opinion, new market participants will get to know the coin in the following months, which may increase its price.To sum up, there is a lot to like in LTC; be sure to follow its new developments!We will be updating our subscribers as soon as we know more. For the latest updates on LTC, sign up below!Image courtesy of BTC Keychain via Flickr