What is litecoin anyway?
Most people do not understand what the real vision of #Litecoin.
For a long time I also thought that Litcoin was just another coin trying to imitate #Bitcoin success, and it took me a long time to understand it thoroughly and the purpose for which it was intended.
I see Litcoin as one of the most misunderstood coins, so I want to try to explain in my own words what makes Litecoin so unique and important.
Since its inception in 2011 Litcoin has been one of the most leading currencies. It has many improvements that do not exist in Bitcoin, such as an improved mining algorithm and faster blocks, but many argue that since BitKine is an open source project, there is nothing to prevent it from adopting these improvements to itself. I believe this is a mistake in looking at the litecoin and its main advantage. I see Lightcoin as a "light" version that is easier and simpler than Bitcoin to help Bitcoin overcome its great weakness, difficulty in development, and rapid updating.
The power of Litecoin comes from its ability to adopt new developments rapidly. Bitcoin can be likened to a new version of large financial systems (such as banks) that are more complex, relatively slow and less innovative, whereas Litecoin can be thought of as more day-to-day systems such as clearing companies and payments when it allows and requires more updating to the everyday consumer Must be faster and more recent.
Lightcoin did not come as a substitute or competitor to Bitcoin. One of his goals is to help Bitcoin develop by testing and testing future improvements to Bitcoin before assimilating it. Examples of such improvements are SegWit and Lightning Network, which Lightcoin adopted before they were added to Bitcoin.
One of Bitcoin's main problems is that it takes a long time to apply new features. This problem stems from the difficulty in reaching agreement in the Bitcoin community and from the need for a massive and prolonged examination before making changes. Thus, Litcoin helps Bitcoin develop and improve in a stable and effective manner.
I would like to emphasize that the laitcoin in any way does not pretend to replace the bitcoin, but as its little brother it is also important as a "test field" and also a faster and more suitable version for daily use
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