Litecoin Is The Most Currency-Like Crypto

Updated: 7 days ago

Elon Musk would like to see Dogecoin become more currency-like. He recently responded to Billy Markus who is one of the creators of Dogecoin with the tweet below:

But the real question should be is there already a crypto that is currency-like?

One could easily argue that Litecoin is the most currency-like crypto in the world. Let's look at the properties that make a great currency.

We can look at the eight characteristics of money to make a determination.

  1. Limited Quantity / Scarcity

  2. Decentralized

  3. Portable (ability to transport)

  4. Secure / Verifiable

  5. Divisible

  6. Durable

  7. Fungible / Interchangeable

  8. Medium of Exchange

Litecoin as you may or may not know has a total fixed supply of 84 million.Litecoin is the second most decentralized cryptocurrency after Bitcoin. Litecoin is highly portable since it is a digital asset, it can be accessed anywhere in the world. Litecoin is secure since it has the majority of Scrypt mining hash power alongside dogecoin. Litecoin is divisible down to 1/100M. Litecoin is durable as the software runs on many nodes decentralized across the globe. Litecoin is now fungible after the MWEB upgrade in May 2022. Lastly, Litecoin is a great medium of exchange with lots of block capacity on the main chain and the extension block. Litecoin has future capacity to scale with block size and further MWEB cut-through optimization of the blockchain.


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