- LTC is already accepted by more than 2,000 retailers and shops worldwide.
- The coin’s primary advantages are its agility and low cost.
Litecoin (LTC/USD) network transactions now account for 40% of all Bitcoin (BTC/USD) network transactions, according to a tweet from the official Litecoin account. Furthermore, their data shows that since April 2019, Litecoin’s transactions have grown at a faster pace.
Between 0.3 percent and 3 percent of Litecoin’s transactions between 2013 and 2019. Since April 2019, they have been consistently rising and outpaced the Bitcoin network in terms of transaction volume by 40%. Moreover, it’s becoming more popular than Bitcoin as a pure cryptocurrency. According to the official website, its success may be due to its simplicity and evident practical advantages.
Catching Up With Bitcoin
LTC is already accepted by more than 2,000 retailers and shops worldwide, making it one of the most extensively used cryptocurrencies. Its primary advantages are its agility and low cost. For example, a Litecoin transaction may be verified in a matter of minutes and costs next to nothing. As a result, it is an intriguing alternative to Bitcoin in developing countries where transaction costs may be the decisive factor.
In order to deliver rapid, secure, and low-cost payments, Litecoin was built to make use of the unique capabilities of blockchain technology. The Bitcoin (BTC) system was developed with a few modifications, including a different hashing algorithm and a higher hard cap on transaction fees.
Because of its short block time and cheap transaction fees, Litecoin is well-suited for use in point-of-sale transactions and microtransactions. According to CoinMarketCap, the Litecoin price today is $106.54 USD with a 24-hour trading volume of $810,755,726 USD. Litecoin has been up 7.19% in the last 24 hours.