Hello, in this lesson, I am going to cover what Litecoin is. So what is Litecoin? What the hell is Litecoin? Let's underline that first. So Litecoin is a crypto currency. I think you've already guessed that much.

Even if you don't know anything about cryptocurrencies. It's, it is not a chain it is in wired and wired by Bitcoin. It uses segregated witness. I covered this in a separate video. It essentially is to handle the scalability issue of Bitcoin. It also uses the lightning Network again, it's regarding scalability of the network.

So it uses the lightning network. And also, LTC is the shorthand for Litecoin just as BTC in Bitcoin. Well, we got we got et haitch is if fear Iam, we have the X r p is the repo and what I have here a literally a, I have the chart of the the price of Litecoin. So, this is the history of Litecoin. So, obviously, various aspects of this chart, mean different things like the green line, essentially To the dollar price and the orange line essentially refers to a comparison with the bitcoin price. So as you can see, it is very volatile.

In many ways the volatility is more maybe less than Bitcoin depending on how you look at it. So why would you want to use it? Okay, it's a cryptocurrency. So Bitcoin is inspired by Bitcoin or Bitcoin isn't about Bitcoin Bitcoin is Bitcoin and is a segregated witness, which even Bitcoin now has started using using the lightning network, why would you want to use it? So, here is one of the reasons I've only got one reason when combined, you can go more than one reason, one of the reasons why you want to use it. It has a great number of transactions that can be processed in a given time.

That's fantastic. And this can help reduce bottleneck especially during peak hour whenever that might be for the platform. Payments occur roughly they occur my parents that work in roughly four times as fast which as you can imagine, That is quite a big deal. So payments occur roughly four times as fast Bitcoin in roughly 10 minutes and Litecoin in roughly two and a half minutes. Overall, it is roughly the same. So what about market cap?

What about the market? cap? The market cap of Litecoin is $3 billion, so, not as big as bitcoins hundred billion dollars, but still reasonable. It's price is can you guess the price that you can, unless you're in it for dollars, so this is as of 2017, October 2017. That is, so it might be different whenever you're watching it. But honestly, overall very similar.

There really isn't much more to say about Litecoin and a currency other than this, so it's worth checking out because the landscape for cryptocurrencies is very new. There are a bunch of them out there. I've already covered several theories. I'll be covering more as well. So if you have any questions, feel free to reach out. I would usually say Feel free to go through the video again and check out the concepts that we've covered.

Honestly, we didn't cover much so you probably got it in your first go. If you didn't, feel free to go over it again. And as usual, thanks for watching, and I look forward to seeing you in my next lesson.