Litecoin is a cryptocurrency created to provide fast, secure, and low-cost payment services by taking advantage of the unique features of blockchain technology. So, what are the predictions about its future?

Its price move reflects the weakness of a large-scale cryptocurrency market in 2022. Although, the network finished its most worthy upgrade ever earlier in the year. 

It has been ranked third among all the cryptocurrencies by market capitalization for a long time. This cryptocurrency has been active for around nine years and has been a successful digital currency for a long duration. As a result, it is still ranked within the top 30 cryptocurrencies. 

## What is Litecoin?

LTC is a decentralized cryptocurrency founded in 2011 by Charlie Lee, a former employee of Google. Although it has the same working principle as [Bitcoin](/coins/btc), there are some differences.

It is inspired by Bitcoin's open-source software, but emerged to eliminate some errors in the Bitcoin system and has been successful in this field.

It aims to enable money transfers at lower costs and offer more storage possibilities than other cryptocurrencies.

By providing faster transactions at lower fees than the Bitcoin blockchain, Litecoin achieved great success in the first days of its existence and gained an important place among other cryptocurrencies.

## Litecoin founder Charlie Lee

LTC founder Charlie Lee worked at Google when he founded Litecoin in 2011. Lee divested his entire stake in 2017 and announced the division in a Reddit post on 20 December, 2017.

Charlie Lee developed this cryptocurrency to be "a simpler version of Bitcoin", with features similar to Bitcoin in many respects, but as a lighter alternative.

## Litecoin predictions

Looking at [Litecoin](/coins/ltc) predictions for value in the short term, CoinCodex shows the LTC price dropped by 3.4% to $53.44 by 1 November, 2022. However, according to WalletInvestor, the token could be trading at $89 by year-end. By 2025, Litecoin predictions say LTC could be trading at $113.

Finally, the DigitalCoinPrice price prediction anticipates [LTC](/news/article/01-litecoin) will trade at over $55.94 in 2022 and, in five years, it will be up to $173. 

When investors look at LTC price expectations, they should remember that the market is volatile, and that analysts' [Litecoin](https://changelly.com/blog/litecoin-price-prediction/) predictions could be wrong. Just rely on your own research. The decision to trade or invest depends on your own risk appetite, experience, and goals. Don't risk what you can't replace.


Litecoin Predictions

First, let me tell you what the [Flare Network](https://flare.xyz/the-flare-network/) is. It is a new blockchain network researching the future of blockchain technology. It makes it possible to use XRP tokens with smart contracts. Spark Token is Flare's native token.

## More about the Flare Network

It is a distributed network integrating the Ethereum Virtual Machine (EVM). At its core, EVM transfers smart contracts into instructions that computers can read, allowing the network to run complete Turing intelligent contracts.

Being fully Turing means that this contract can handle any computational task if there is a large enough memory to run the smart contract. In short, Flare helps to be a way to scale intelligent contract networks.

It uses a consensus protocol called Avalanche, adapted to work with the Federated Byzantine Agreement (FBA). FBA is a consensus mechanism used by networks such as XRPL and Stellar.

Flare's consensus algorithm does not use economic tools such as Proof of Stake (PoS) to protect the network’s security.

The new blockchain network allows the network token to have different uses. The originators of Flare said that this design choice brings variety to the token without compromising security.

## Launch date

With the new announcement from Flare’s team, the protocol is getting closer to decentralised management.

The date of transition to airdrop and beta mode was set as 24 October. The group released an official announcement stating that the protocol is moving to decentralised management. The network will run in beta mode for the next six to nine months.

Most of the processes needed to create the Flare Network have been done. According to the Flare team, it is now in the monitoring phase and has passed several previous phases without any flaws or problems.

## The Flare Network size

Do you want to know how extensive it will be?

It will create 100 billion Spark tokens, reflecting the quantity of XRP. Around 45 billion XRP tokens don’t belong to Ripple labs. The distribution aims for XRP holders to claim around a 1:1 amount of Spark to their XRP holding other than Ripple.

## How does the Spark token (FLR) work?

Spark token (FLR) is the cryptocurrency of the Flare Network. It is a project implemented with a usage fork in the XRP network. Spark tokens continue to operate as the cryptocurrency of the Flare Network ecosystem.

It is stated that this platform is a system that works to make the XRP ecosystem better. As it is known, smart contracts are a service offered to users on the leading altcoin Ethereum (ETH) network.

Thanks to smart contracts, new crypto-money projects are allowed to step into the market. It is possible to attribute the value of ETH to this service.

## How to buy Spark token (FLR)?

To invest in the Flare Network or buy Spark Token, you could simply buy a Flare token. To learn more about that, you can visit [CoinMarketCap](https://coinmarketcap.com/) and research where you can buy the Flare token.

It is very difficult to follow the movements of Spark token (FLR) in the market from existing web resources. According to the data on the team's website, this cryptocurrency works with many exchanges.

However, the information on which platforms the FLR tokens are listed on or where they are traded is not included. It is possible to buy this [cryptocurrency](/news/article/cryptocurrency-losses) through the Flare Network.

The Flare Network has already been met with optimization from the crypto community because it’s the system mechanism. A promising future awaits it in the cryptocurrency and blockchain community.


blue chains image with flare logo in foreground

Flare Network Explained

SUBSCRIBE TO NEWSLETTER

Purple image of Rocketpot logo on purple background

Rocketpot Bitcoin Casino Review 

bitsler casino logo on purple background image of hand holding globe

Bitsler Casino: Is the Gambling Legit?

blue image of circuitboard with auros logo overlayed

Latest Moni