What is litecoin and what is reef 


Litecoin



Introduction

Litecoin is a peer to peer digital currency protocol created based on very unique properties of blockchain technology. Generally you can refer to Litecoin as a decentralized cryptocurrency with similar protocol as Bitcoin but with some little differences in it's framework.

Initially, it was a strong competitor to bitcoin. However, as the cryptocurrency market has become more saturated in recent years with new offerings, Litecoin popularity has been waned.

Who Is the Founder of Litecoin

In October year 2011, Litecoin was founded by Charlie Lee. Lee was an early Bitcoin miner, computer scientist and a former software engineer for Google.

In addition, Charlie Lee held the role of director of engineering at Coinbase between  the  year 2015 and 2017 before moving on to other venture.

Apart from Charlie, the Litecoin Foundation also includes three other individuals on the board of directors namely Xinxi Wang, Alan Austin and Zing Yang

What Makes Litecoin Unique

One of the outstanding features of Litecoin is that speed it profer when compared to Bitcoin. The Litecoin Network targets a block time of 2.5 minutes unlike the Bitcoin network which targets a block time of 9  or 10 minutes.

Another important point to note is the cost effectiveness Litecoin offers. Because of the lighter weights the transaction costs on Litecoin is almost not noticeable 
unlike Bitcoin



Reef

Introduction

Reef is a liquidity aggregator which offers a cross chain smart yield engine that allows the integration  any of DeFi protocol. Built on Polkadot, it shares its security model across the ecosystem while enabling cross-chain integrations.

Who are the founder of Reef

Denko Mancheski in the second half of 2020 founded REEF. He thought about a solution to the problems of barriers that kept people from accessing and Adopting DeFi products. He envisioned creating a platform that simplifies DeFi and takes into account the risk appetite of users using it.

What Makes Reef Unique

REEF was built with the intention of eliminating the complexities that surround DeFi. 

It’s also paramount to note that REEF was built with consideration of the high gas fees that was paid on Ethereum network and as such the fees on REEF are minimal and affordable.

REEF also provides an avenue for users to access a broader number of platforms with one account as it supports DeFi protocols on Avalanche, Moonbeam and Plasma, as well as on Ethereum and the Binance Smart Chain.

Milestone

In 2017, the development of REEF token and token sale smart contracts began on the Ropsten test network and the REEF website was built.

In the early parts of 2018, the REEF Website was published along with the development of white paper version 1.0. SQUID NETWORKS LTD. was officially incorporated via the company's house.

How Is Reef Network Secured

The REEF network is secured under the shared security model organized by Polkadot. The model is known for durability and also known for the advantage of upgrading without the need to fork. A DAO (decentralized autonomous organization) governed by REEf token holder also contributes in keeping the network decentralized and secure.

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