Litecoin LTC to PAC Global PAC Exchange

Crypto Pair Details: LTC to PAC

Litecoin LTC

Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins. Why Litecoin? Litecoin is a cryptocurrency that has evolved from Bitcoin after its own popularity in the industry, this alternative, or ‘altcoin’ has emerged to allow investors to diversify their digital currency package, according to Investopedia. Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering at Coinbase, Charlie Lee. Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin's 10 minutes. ‘While this matters little to traders, miners who use hardware to run Bitcoin's network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained. As explained above, Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed. However, Litecoin’s blocks would be larger, but with more ‘orphaned blocks'. The faster block time of litecoin reduces the risk of double spending attacks - this is theoretical in the case of both networks having the same hashing power. Litecoin Technical Details: The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin's 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units. Litecoin has inspired many other popular alternative currencies (eg. Dogecoin) because of its Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins. However it is said that by the end of this year, Scrypt ASIC will enter the mass market.

PAC Global PAC

PacCoin (PAC), or the People’s Alternative Choice Coin, is a lesser-known coin that’s been sitting since 2015. It experienced rapid inflation during 2017, which might be attributed to generous mining rewards. At the start of 2018, PAC had become one of the cheapest cryptocurrency coins out there, with a relatively large total supply of roughly 3.5 trillion coins and a planned cap of 100 trillion. It has a devoted community that hopes to see their holdings come to fruition and make them rich, believing in its future as an “Internet penny” that lends itself to micro-transactions. PACcoins started to trade at 0.0000$ as of only a couple of days ago. Later on, the coin gained some on its price with a couple of increases that helped the price jump from non-existent to existent. After the latest decrease that made the price drop for over –9%. This decrease led to the current price of 0.000031$, which is still better than having the coin traded at 0$. For now, it remains uncertain what will happen with PACcoin and how well this coin will perform after being re-launched three weeks from now. For now, we strongly advise to give this token a thought and consider investing – the price is still too low, so even if the coin drops again, you won’t be losing much money.

SOURCE: COINGECKO

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