One of the primary altcoins, or cryptocurrencies apart from Bitcoin, was Litecoin, launched in 2011. Although it was technically similar to Bitcoin, it considerably sped up transaction occasions. Transaction processing occasions for Litecoin are roughly 4 occasions quicker than these for Bitcoin.
In phrases of worth, cryptocurrency lovers steadily consult with Litecoin because the silver to Bitcoin’s gold. However, LTC has all the time been less expensive than Bitcoin, and a few traders have chosen it as their funding.
commercial
Litecoin Hashing Algorithm
Scrypt is the hashing algorithm that Litecoin makes use of. Scrypt requires extra reminiscence and runs slower than SHA-256. However, it gained extra help from the cryptocurrency group after the 2011 Tenebrix undertaking modified Scrypt to help mining on commonplace CPUs.
Developing application-specific built-in circuit (ASIC) miners was additionally difficult attributable to Scrypt’s considerably larger reminiscence necessities. The world’s first LTC ASIC miner was launched in 2016, its ASIC-resistant setup didn’t final lengthy.
How Much Money Would You Make If Litecoin Reaches $100?
Litecoin is at present buying and selling at $63.05 and has a market capitalization of $4,530,611,712. It has misplaced appreciable worth in latest occasions. LTC has plunged alongside the broader cryptocurrency market in 2022, with costs falling about 48% in a 12 months. LTC was 81% beneath its all-time excessive firstly of December.
According to TRADINGBEASTS.COM, LTC will breach the $100 barrier by October 2024. Let’s assume that you just make investments a modest $1000 in Litecoin as we speak.
According to as we speak’s worth, which is $63.05, you’ll have roughly 15.86 Litecoin cash. If Litecoin’s worth hits $100 within the subsequent few years, your $1000 will turn out to be $1586.00.
Let’s say you got $1000 worth of Litecoin cash as we speak. With the present price, you’ll have roughly 15.86 cash. However, you may doubtlessly make $1586 when it reaches the $100 mark.
Disclaimer: This will not be funding recommendation. Please do your due diligence earlier than investing in any asset.
Also Read: Here’s How Much Your $100 Investment in Polkadot Will Be Worth If DOT Reaches $10
The introduced content material could embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.
