Crypto academy season 2:alticoins-part1 homework post for @yohan2on|litecoin by @teco

I'm so happy today writing this article following the come back of our crypto academy community, and I also use this medium to thank our amiable professor @yohan2on on your well detailed lecture on alticoin, I was able to learn a lot which I'm about to pen down.
Before I proceed with my article I will like to sheed more light on what an alticoin is all about.
What is an alticoin?
An alticoin can be said to be a combination of two worlds"alt" and "coin" which means alternative to something, and it includes all alternative to bitcoin, the basic work of alticoin and bitcoin is similar but it's also different from bitcoin for example, some alticoin exempt themselves from bitcoin by providing new or additional capabilities such as smart contracts or low price vitality. There are many many types of alticoin which includes litecoin, xrp etc. But I will be writing on litecoin

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What is litecoin?
Litecoin is a peer to peer crypto currency and an open source software project, litecoin can said to be an early alternative to bitcoin.
Litecoin was released via an open source client on October 7,2011 by Charlie lee who was a Google employer before becoming an engineering director at Coin base, litecoin went live on October 13,2011.
In the month of November 2013,the aggregate value of litecoin experienced a rapid increment which includes a 100% leap within 24 hours.
Litecoin became the first in the top 5 by (market cap) in the year may 2017,later the same year the first lightening network transaction was completed through litecoin transacting on a transfer amounting to 0.00000001 litecoin from Zurich to Francisco under one minute.

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Difference between litecoin and bitcoin:
1:Litecoin aims to process a block every 2.5 minutes while it takes bitcoin 10 mins that's to say that litecoin runs transaction faster than bitcoin.
2:number of coins they produce: another main reason lies on the amount the two can produce and this is where litecoin distinguishes itself In the sense that it can accommodate up-to 84 millions coins while bitcoin can't exceed 21 million.

Mining profitability between litecoin and bitcoin:
Litecoin has gained people's interest because of its high speed and low fees, so while mining you need to understand the difference between the two cryptourrency.
Alogorithm:
Bitcoin uses sha-256
Litecoin uses scrypt.

Transaction time between the 2:
It takes about 10 minutes to get a block on the bitcoin network while it takes litecoin 2.5 minutes that's to say it is 4 times lesser than bitcoin.

What to know before investing on litecoin :
Before you invest in litecoin, it is necessary to remember that litecoin is a currency that is to say it doesn't act like a stock or bond so instead of buying shares of litecoin you are swapping your currency to litecoin for currency.

Advantages of litecoin over bitcoin:
1:asic resistance :litecoin took a code and transformed it's algorithm to scrypt from sha-256 and this has helped it in avoidance of centralisation of mining activities.
2:less political tussule: bitcoin is in internal fight over who will control the future development of bitcoin unlike litecoin.

Benefits of litecoin over bitcoin:
Litecoin offers a number of benefits for users over bitcoin and the benefits includes
1:faster procces of speed.
2:few or no opportunity for hackers through the use of scrypt
3:lower transaction rate.

Similarities between litecoin and bitcoin.
1:proof of work validation:this is a process where by miners are been approved of their nodes within a transaction before the transaction scales through, these helps in avoidance of double payment and other scams and both litecoin and bitcoin passes the same process.
2:halving:this is one of the crypto events, it is the process of earning from mining this system usually happens every four years and the halving helps in circulation of coin control.
3:use cases:another similarity between bitcoin and litecoin is it's uses, because one of the reason behind the success of bitcoin is it's useless both coin work as a store of value and are also useful for payment of goods and services.
The success of bitcoin has seen merchant accepting it and the same value is applicable to litecoin, the coin is useful and also gaining transaction as a payment method.with the digital currency economy growth, both coin use cases is likely to increase.
4: scarcity: scarcity is another key factor that both shares, they operate differently from the fiat currency that has no supply limit.
Thanks @yohan2on for the wonderful opportunity you gave to us in writing this article and I will appreciate it if you go through my work
Cc:@yohan2on-s2week1