Why 2014 will be the year for Litecoin
Bitcoin made some distinct progress in the year 2013. The Bitcoin graph started from as low as $13, went up dramatically to above $1200 before settling back to $950 steadily.
Apart from Bitcoin, there are some alternate crypto-currencies which are climbing the popularity board, especially Litecoin which is considered as silver to Bitcoin’s gold. Those that missed their chances to become Bitcoin millionaires are now looking towards Litecoin which was launched in 2011. In fact, some believe that Litecoin is advantageous over Bitcoin as it has several improved features. Like there would be four times as many coins that can be created compared to Bitcoin with the limit capping at 84 million Litecoins.
On the security side, Litecoin scored a higher number when compared to Bitcoin. According to experts, Bitcoin is safer per block, but Litecoin is safer when given the same amount of time to confirm transactions. Litecoin offers similar security as 2.5 minutes as Bitcoin does at 10 minutes. The only scenario where Litecoin is less secure than Bitcoin is when comparing the two networks block to block.
With Alpha Technology’s promise of the ASIC Litecoin machine which was open for pre-order and the payment processor GoCoin accepting Litecoin as a mode of payment, Litecoin is getting into the limelight and starts getting some traction for the year 2014.
Many financial experts has been calling Litecoin as having four times faster transaction time and better security features. It has been known as the best alternative to Bitcoin without the price tag of Bitcoin to ensure a better return which was enjoyed by early Bitcoin adopters.