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Did you know that Litecoin is one of the longest standing cryptocurrencies in the ecosystem?
To help understand why, we recently spoke with Alan Austin, Managing Director of the Litecoin Foundation on the Blockchain.com Podcast.
In case you missed it, here are four big insights from the conversation.
1. Litecoin is like bitcoinâŠ
âLitecoin is a decentralized peer-to-peer cryptocurrency that enables instant, low cost payments, basically anywhere in the world without a third party⊠There is no bank in the middle to direct what can and canât happen with an individualâs money.â Alan explains.
2. âŠwith a few key differences
Alan told us that âAlthough both Litecoin and Bitcoin hold many of the same values, the main difference between Litecoin and Bitcoin is that Litecoin has four times the supply of Bitcoin, itâs four times as fast as Bitcoin, and because of those things the fees are lower than Bitcoin.â
3. Litecoin adoption is on the rise
âLitecoin is growing significantly. We had a total number around 100 million transactions at the end of 2021. Weâre currently at about 123 million total transactions,â shared Alan.
4. Litecoin can protect privacy
Alan described âa new optional feature of added privacy called Mimblewimble Extension Blocks (MWEB)⊠can be applied to conceal the âtoâ and âfromâ addresses as well as the amount of Litecoin being sent.â
He added, â[When] you go to a store and pay with cash or credit card, they donât know how much is in your bank account, nor should they. So this is a basic level of privacy thatâs already applied to traditional financeâ
If youâre interested in getting LTC, you can buy, sell, swap, trade and hold Litecoin right inside your Blockchain.com Wallet.
Go to Blockchain.com to get started today!
To find out more about Litecoin and the roadmap ahead, listen to the full podcast episode.
âThe Blockchain.com Podcast: Exploring Litecoin with Alan Austin on Apple Podcasts
Why Litecoin is Worth Paying Attention To was originally published in @blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.