Published On: Tue, May 22nd, 2018

Why Invest in Litecoin?

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Litecoin, which began trading as a cryptocurrency in April 2013, has long been in the top-10 cryptos in terms of market capitalization – mostly because it is one of the earliest and most successful Bitcoin derivatives.
The Litecoin project, launched in October 2011, was created by Charlie Lee, who back then was a Google software engineer. He would spend his spare time tweaking the original crypto Bitcoin’s open-source code. His grand plan was to develop a decentralized, peer-to-peer payment network that was much like Bitcoin, but lighter in computational power – hence the crypto’s name – and much quicker for transactions.
On Twitter, Mr. Lee – whose handle is @SatoshiLite (in a nod to the mysterious Bitcoin founder, or founders, Satoshi Nakamoto) – wrote of his frustrations:
Bitcoin is a great store of value. I’m fine spending ~$1 fee per transaction, but I can’t stand waiting 40+ minutes for a confirmation!
Mr. Lee became director of engineering at Coinbase – a respected online platform for buying, selling, and storing digital currency – and in that role was able to promote Bitcoin. With his help it gained approval from a raft of big-name global organizations, including Tesla, …

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