First altcoin: historical perspective
In the world of cryptocurrency, the term “altcoin” means alternative cryptocurrencies that differ from the dominant player in a certain room. Some of them have received great attention and popularity over time. Such an altcoin, which is often referred to as Litecoin, is indeed an interesting piece of history.
Litecoin -Urprung
Litecoin was designed by Charlie Lee, a former soldier in the US Army, who later joined the Litecoin development team. The coin, originally “Litecoin Gold” (or “Simply LTC”), was launched in 2011. October 7th at this time, it was created as an open source decentralized Bitcoin alternative.
Silver on behalf of Litecoin
One of the reasons why some people call Litecoin “silver” at Bitcoin Gold is the early acceptance and the perceived value compared to the leading cryptocurrency at this point. First, Litecoin was started with a smaller block award, which achieved an advantage over other coins, including Bitcoin. When more people invested in Litecoin, the value of LTC increased.
Comparison with other old coins
The early success of Litecoin compared to Bitcoin can be attributed to various factors:
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- easier introduction : The design and implementation of Litecoin was viewed more conveniently than Bitcoin, which contributed to his quick acceptance.
Diploma
Litecoin was actually the first old coin and his earlier success can be attributed to several factors. Charlie Lee’s vision for the decentralized Bitcoin alternatives together with the Litecoin Lower Block Award and the operating fees became an attractive opportunity for investors. Although the value of Litecoin is enough over time, it remains an important player on today’s cryptocurrency market.
If you go forward, it will be interesting to see how other old coins develop and compete with traditional cryptocurrencies such as Bitcoin.
