Litecoin (LTC)

Litecoin is a fork of the Bitcoin Core source code and is also called Bitcoin Lite or digital silver to Bitcoin's digital gold.

Litecoin is a fork of the Bitcoin Core source code and is also called Bitcoin's younger brother and even Bitcoin Lite, 

Litecoin (LTC) was founded by Charlie Lee - an early Bitcoin miner, a computer scientist, and an ex-Google engineer. Litecoin started off in October 2011 but came into the limelight in November 2013 after a sudden huge price surge.

Some of the differences between Litecoin and Bitcoin are:

  • Faster block generation time (LTC: 2.5 mins, BTC: 10 mins).
  • Larger total coin supply (LTC: 84 million, BTC: 21 million).
  • Hash algorithm (LTC: Scrypt, BTC: SHA-256).

Litecoin also undergoes block reward halving every 840,000 blocks (approximately 4 years).

Litecoin uses the Nakamoto Consensus in which the valid chain is the longest chain with the most accumulated proof-of-work. This type of consensus is "probabilistic" because there is always a probability or chance that a new, longer chain could emerge with more accumulated proof-of-work. This chain would invalidate the current chain.

Litecoin has implemented several technological upgrades including:

  • Segregated Witness (Segwit),
  • Lightning Network (for layer 2 scaling), and
  • OmniLite (for layer 2 smart contracts).

The popular meme coin Dogecoin (DOGE) is a fork of the Luckycoin blockchain which is a fork of Litecoin. Since Litecoin and Dogecoin use the same Scrypt-based mining system, they are used in merge-mining.

Litecoin as a store of value

A store of value is an asset whose value either remains the same or increases over time. Some of the most popular stores of value are gold, real estate, and even art.

I believe that Litecoin can become globally accepted as a store of value, and its total market cap would equal that of silver by 2030.

The market cap of all the silver in the world is estimated to be US$ 1.475 trillion. So in the long term, the marketcap of Litecoin would be US$ 1.475 trillion. Considering a maximum supply of 84 million litecoins, I think a fair long-term price would be US$ 17,560.

This is subject to 1 critical caveat - the blockchain technology is not "broken".

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