Litecoin [LTC] creator Charlie Lee just recently shared his sights on the essential value of cryptocurrencies at the Blockchain Cruise Conference. He reviewed the top 2 cryptos by market cap– Bitcoin [BTC] and also Ethereum [ETH]– along with his Litecoin project.
Lee explained that Ethereum does not have the immutability attribute that exists in both Litecoin and also Bitcoin. This places the ‘clever contract’ job at an adverse position as transactions can be modified in future, BitcoinExchangeGuide reported.
Nevertheless, it is to be kept in mind Litecoin and also Bitcoin purchases could also be reversed, however at a really pricey margin. The costs differ substantially from each other– for Litecoin, it is extra costly than Bitcoin. Lee pointed out that Bitcoin is a far better alternative for huge deals while Litecoin is more suitable for smaller sized deals.
He is of the sight that the ETH project is very ‘protection oriented’ and also censorship-resistant. “It’s hard to see particular deals but the issue with Ethereum is, we have actually already seen it, we have currently revealed and verified that purchases on Ethereum is not immutable for many cases it is,” he stated.
To support his point, he offered the example of Ethereum Standard [ETC] fork or the DAO hack that marked the split of the Ethereum blockchain. This was done by the area and developers to stop cyberpunks from stealing tokens.
Charlie Lee included, “It sets a bad precedent that governments could approach the structures of programmers as well as encourage them that this purchase is bad since it’s sending out countless bucks to a terrorist group. So, no one suches as terrorists but for residential or commercial properties of sound cash is essential that transactions are unalterable.”
Currently, Ethereum price is moving a lot more compared to its peers. At the time of writing, ETH was trading at $194, down by 1.84 percent versus the U.S. dollar.
A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website 1Bigbitcointeam.