Altcoins News
By Sydney TheCMO
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Litecoin is a Lighter version of BTC
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Resolves exorbitant mining setup woes
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Faster processing
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Cheaper fees
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Resistance to unwanted flood attack
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Bitcoin is undoubtedly the king of all cryptocurrencies. But then, we have to admit there are some serious limitations in the BTC network.
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Essentially, Litecoin is a BTC clone. It’s one of the oldest altcoins that were created out of Bitcoin forks.
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The best part about Litecoin is that the coin was launched with the fundamental goal to create a lighter version of Bitcoin.
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One of the best things that I have always loved about Litecoin is its mission to democratize mining.
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But, Bitcoin uses SHA 256 mining algorithm that demands highly expensive ASIC mining rigs today. It makes the whole process extremely pricey for a layman.
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Litecoin assures a much faster processing speed than its older cousin Bitcoin. BTC takes around 10 minutes to complete one transaction.
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Litecoin fees are something around $0.04 per transaction while for Bitcoin it is a whopping $1 per transaction.
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Flood attack in crypto is defined by a situation where a network is subjected to a flood of numerous spam transactions. Now, BTC network was vulnerable to flood attack.
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Litecoin comes up with multiple unique and exciting features over time. One of my latest favorites about the coin is Atomic Swap.
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