The success of Bitcoin concept has attracted “Litecoin” a similar virtual currency system promising some technical improvements. The target for litecoin is 84 million currency units as against 21 million targetted by Bitcoin.
The presence of two virtual currencies in place of one makes the game more interesting and at the same time introduces some competition in improvement of the protocols. At present Litecoin is priced around US$15 with a market capital of US$350/-. Bitcoin on the other hand is priced around US$845 and a Market capital of around US$ 11 billion.
We need to wait and see how Litecoin progresses in competition with Bitcoin and how they together are handled by the regulators.
Naavi
