Earnity’s executives Domenic Carosa and Dan Schat and Digital Silver
Dan Schatt and Domenic Carosa, executives of the San Mateo, California-based DeFi startup Earnity, aim to help those new to cryptocurrency by sharing articles that impart their know-how on the digital or virtual currency and its exchanges. This article will tackle different topics, including facts about Bitcoin, Ethereum, and Litecoin.
On that note, here are several interesting facts on Litecoin.
Litecoin is one of the most popular cryptocurrencies in the world. It was conceptualized, developed, and ultimately created in 2011 by Charlie Lee, a former Google engineer.
Litecoin is a peer-to-peer digital currency and open-source software project released under the MIT/X11 license. It is like Bitcoin but with a couple of crucial differences. For example, Litecoin can process transactions four times faster than Bitcoin.
Litecoin also has a much larger supply of coins – 84 million compared to Bitcoin’s 21 million. This makes Litecoin less prone to price volatility.
Over the years, Litecoin has become increasingly popular and is now accepted by many online merchants and retailers. Some people believe that Litecoin will eventually overtake Bitcoin as the most popular cryptocurrency in the world. Dan Schatt and Domenic Carosa of Earnity, want the public to know and accept crypto even further.
As a “fork” of Bitcoin, Litecoin shares similarities with Bitcoin but is still distinct. For example, Litecoin has a higher maximum supply limit (84 million vs. 21 million for Bitcoin). Additionally, Litecoin transactions are confirmed faster than Bitcoin transactions.
Litecoin is called “digital silver,” while Bitcoin is often referred to as “digital gold.” This analogy comes from the fact that Litecoin is intended to be used as a digital currency for everyday transactions, while Bitcoin is more suited for long-term value storage.
There are various ways to buy and store Litecoin. For example, you can buy Litecoin on many online exchanges or store it in a hardware wallet, one such as the Ledger Nano S.
Litecoin is currently the sixth-largest cryptocurrency by market capitalization, and it has a very active development community. For more information, visit the Litecoin website at Litecoin.org.