The popular Bitcoin alternative, Litecoin (LTC), is pulling a comeback after years of falling out of favor with investors.
Litecoin has now become one of the market leaders in payment and adoption, facilitating over $1 trillion worth of transactions.
To further build on its adoption, the Litecoin Foundation has partnered with Mastercard to launch a Litecoin Card in Europe and the U.K.
The recent surge in the use of Litecoin has positively affected the price of LTC, and it has gained over 41% this year to trade above $100.
Project Review
Litecoin was born as a result of some flaws inherent in Bitcoin, the first released crypto, most notably its slow transaction processing. Litecoin was created by Charlie Lee and launched in 2011 as a “better alternative” to Bitcoin.
Although Litecoin is based on the Bitcoin protocol, it offers a better transaction processing speed of up to 54 TPS, which is significantly higher than Bitcoin’s transaction processing speed of 5 TPS.
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