The cryptomarket is rapidly expanding. As such, it can be difficult to tell projects apart for new investors. What was once just a handful of coins has now become a robust market flush with thousands of tokens. Understanding the differences between Litecoin and META 1 Coin can help you to make an informed investment decision in the future. It can also help you to grasp the evolution of the crypto space so far.
What is Litecoin (LTC)?
Litecoin is one of the earliest cryptocurrencies to hit the market. The coin was introduced in October 2011, by long-time Bitcoiner and former Google employee, Charlie Lee. The project caught the immediate attention of investors and for many years, Litecoin was one of the top cryptocurrencies in terms of market cap. Notably, it only took Litecoin two years to achieve a $1 billion market capitalization.
Due to its early positioning in the market and its synergy with Bitcoin, Litecoin was able to become one of the most widely accepted cryptocurrencies in the world. Nearly every major exchange carries the coin and there are multiple ways for LTC holders to purchase goods and services using the coin.
What is META 1 Coin?
META 1 Coin is just one of the components of the METANOMICS universe. The coin provides a stable and self-appreciating way for users to generate wealth. Notably, META 1 demonstrates the evolution of the crypto sector in multiple ways. For one, it’s an entire ecosystem that includes a DEX and DeFi features on top of its cryptocurrency.
What Problems was Litecoin (LTC) Built to Alleviate?
Litecoin was built to improve on some of Bitcoin’s faults. Lee never intended Litecoin to surpass Bitcoin in terms of market cap. He simply wanted to provide a more efficient and less expensive alternative to the market. Specifically, Lee has been quoted calling the coin “silver to Bitcoin’s gold.” As such, the primary goal of the coin is to operate as an open-ѕourse Pееr-tо-Pееr digital cash system.
Even as far back as 2011, blockchain developers were seeking out ways to alleviate Bitcoin’s rising fees. Litecoin accomplishes this task via adjusting the transaction fee model. Notably, the technical structure of the coin enables it to offer users a fee structure that is 1/50th the size of Bitcoin. Specifically, you only spend 1/1000 of a Litecoin to process a transaction regardless of the size.
What Problems was META 1 Built to Alleviate?
META 1 was built to provide a viable alternative to the unfair centralized financial system. The network was built from the ground up to provide exciting wealth generation features to users. As such, META 1 is located outside of US corporate, IRS, and SEC jurisdiction. This approach enables the project to provide features that fall in line with its overall goal to empower a better financial system.
How Does Litecoin (LTC)) Work?
Like most early cryptocurrencies, Litecoin is a hard fork of Bitcoin. As such, its technical structure closely resembles the world’s first cryptocurrency. Users can send and receive Litecoin across the planet in minutes. Its censorship-resistant and completely transparent via public block explorers. In this way, Lee was able to expand on Nakamoto’s vision without competing against it.
Lee did integrate some vital improvements to provide more scalability. Additionally, Litecoin was released under MIT/X11 lісеnѕеѕ and is completely open-source. One of the main adjustments made by Lee was a reduction of the block approval time. He decided to chop Bitcoin’s 10-minute block times down to 2.5 minutes. This strategy, coupled with the unique market approach Litecoin introduced as Bitcoin’s sidekick, helped the token to enjoy less volatility when compared to its big brother, Bitcoin.
How Does META 1 Work?
META 1 provides users of the META ecosystem with a way to escape the extreme volatility of the market. The coin employs a variety of anti-manipulations features to protect investors in new ways. One such protection prevents users from tanking the market via dumps. This contract leverages a price oracle to verify that all META 1 coins sell for fair asset value.
Users can also earn easy rewards by joining the savings account feature. This option provides you with greater interest payouts than your local bank branch. For example, a normal account only pays you around .25% on your savings. Additionally, they lend out your funds to earn profits without cutting you in on the ROIs.
Staking is another advanced feature that META 1 brings into the equation. Staking requires you to lock our tokens in a network smart contract. In exchange for your participation in validating transactions on the blockchain, you receive rewards in the form of network tokens. Staking is considered a better option for new traders because it reduces risk and requires very little market research versus day trading.
Litecoin improves on Bitcoin but it’s still a first-generation cryptocurrency. As such, it still utilizes the Proof-of-Work consensus mechanism. This system relies on miners to compete against each other to validate blocks. The improvements made by Lee were advanced for the time. However, these early cryptocurrencies are no match for today’s advanced networks.
META 1 coin features transaction throughput on par with major payment processors such as PayPal. The network incorporates a variant of the DPoS (delegated proof-of-stake) system to validate the state of the blockchain. This system eliminates miners from the equation. Instead, a group of community elected nodes known as witnesses verifies transactions. This strategy provides higher scalability while reducing the carbon footprint of the blockchain significantly.
LTC operates as the main utility token for the Litecoin blockchain. Users can easily send value globally using this protocol. LTC is one of the best-known coins in existence. However, over the last 3 years, the token has fallen from its top spot and been replaced by more advanced alternatives. There are 84 million Litecoins slated for issuance.
META 1 Coin
The META 1 coin was built by the people for the people. The coin has a plethora of features designed to give you more ROI potential in the market. For example, only humans can hold META 1 Coins. Governments, investment firms, and corporations are banned from the network. META 1 goes as far as requiring a KYC human verification from each trader to enforce this policy.
Litecoin vs META 1 Coin
After reviewing the facts surrounding Litecoin vs META 1 coin, it’s easy to see that META 1 is far more advanced. However, despite its technological advantage, it’s important to remember that Litecoin will always have a following in the market due to its status as one of the originals. As such, you may find it conducive to your plans to hold both of these tokens in your portfolio.