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The most dangerous competitor Bitcoin - Litecoin
When acquainted with the resource CoinMarketCap - rated crypto currency, the first in the list is Bitcoin. The second number goes - Ethereum. However, according to the reviews of Motley Fool, a tremendous risk for Bitcoins is represented by a competitor who is ranked lower - Litecoin.
Litecoin was launched by Charlie Lee in 2011 and uses the same protocols as bitcoin. According to the analysis, Bitcoin and Litecoin were really organized for absolutely different markets. But Bitcoin is designed as a monetary unit and a value-saving protocol based on consensus, while itecoin is considered a platform with unlimited functionality, which is also a crypto currency intended for the performance of internal sales transactions.
However, analyzing the data of both companies, Litecoin is essentially the same as bitcoin - the monetary unit. In addition, to raise the level of service Litecoin has already completed the update of SegWit, which significantly reduced the time of transactions. However, of the major players in the market, only Overstock sees Litecoin as an international firm. This is not the fault of the crypto currency itself, but the complete absence of the focus of Litecoin.
It is not yet clear whether Litecoin has the opportunity to challenge the predominance of Bitcoin. While the Litecoin Foundation believes that both organizations will be able to work, while not interfering with each other, because Litecoin focuses more on payments.
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