Litecoin LTC to Tripio TRIO Exchange

Crypto Pair Details: LTC to TRIO

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.

Tripio TRIO

Tripio is the first travel marketplace based on the blockchain. It leverages the decentralized network provided by blockchain technologies to directly connect global customers and service providers. Moreover, it builds a service ecosystem based on transparent, tamper-resistant trust and incentives. The blockchain technologies Tripio leverages help reduce transactional and operational costs in travel industries, as well as improve customer experience in their respective products and services. On the Tripio platform, a service provider can publish her unique service terms and conditions using smart contracts. From the moment a purchase initiates to the end of the travel, every step along the way can be enforced and monitored by smart contracts. Should disputes arise, Tripio provides dispute resolution by means of community selfgovernment mechanisms. Tripio comprises of its dApps and a set of Tripio Protocols that forms the basis of the new ecosystem. The Tripio dApp and the Tripio Protocals are powered by the ERC-20 utility token called the TRIO token. Customers may use Tripio dApps directly. At the same, any third-party may build its own dApp by leveraging the open Ethereum protocols.

SOURCE: COINGECKO

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